The largest public-sector bank, the State Bank of India (SBI), through a tweet on December 26,, 2019 announced that it will introduce a one-time password (OTP)-primarily based coins withdrawal gadget for its ATMs. With this facility, a customer can do transactions above Rs 10,000 via ATM from 8 am to 8 pm.
SBI cardholders receive an OTP on their mobile number registered with SBI bank at the time of beginning the cash withdrawal process at the ATM.
The OTP is a device-generated numeric code that authenticates the consumer for a single transaction. This extra code of authentication shield SBI cardholders from unauthorized ATM cash withdrawals.
Do remember that you can not use some other bank's card to avail of this facility at an SBI ATM because this functionality has now not been advanced in National Financial Switch