RBI launches new UPI feature: Deposit cash at ATMs without Debit cards

The Reserve Bank of India (RBI) has launched a new feature allowing customers to deposit cash at ATMs using the Unified Payments Interface (UPI), eliminating the need for physical debit cards.
Deputy Governor T. Rabi Sankar unveiled the UPI Interoperable Cash Deposit (UPI-ICD) service at the Global Fintech Fest 2024 in Mumbai. The feature enables users to deposit cash into their own or any other bank account via UPI at ATMs operated by banks and white-label ATM operators.