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The country's largest public-sector lender, the State Bank of India (SBI), via a tweet on December 26, said that it will introduce a one-time password (OTP)-based cash withdrawal system for its ATMs. The bank said that this facility will be available for transactions above Rs 10,000 between 8 pm and 8 am
How it will work SBI cardholders will receive an OTP on their mobile number registered with SBI bank at the time of initiating the cash withdrawal process at the ATM, according to a post on the bank's official Facebook account. "The OTP is a system-generated numeric string of characters that authenticates the user for a single transaction. This additional factor of authentication will protect SBI card holders from unauthorized ATM cash withdrawals," it said.
Enter the code you received on your mobile number
Add a Password to make your account more secure. You will be able to login on the platform using password or OTP received on the registered movbile number.
