Summary: The Reserve Bank of India, through its October 1, 2026 communication, has partially modified the earlier instructions on cassette swaps in ATMs issued on March 31, 2022. The modification permits the Board of a bank to delegate the responsibility of monitoring the progress of implementation of cassette swap to a Committee of Executives. The change is effective from October 1, 2026 and follows amendments to the governance directions applicable to Commercial Banks, Small Finance Banks, Payments Banks and Local Area Banks. The RBI communication refers to its earlier circular RBI/2021-22/190 DCM (Plg.) No.S 1117/10.25.007/2021-22 dated March 31, 2022 and specifically modifies paragraph 3 of that circular. A footnote clarifies that the relevant expression was substituted with effect from October 1, 2026 consequent to the respective 2026 governance amendment directions.
Reserve Bank of India
RBI/2026-27/273 DCM (RMMT) No.S 2107/20-02-002/2026-27 | Dated: October 01, 2026
The Chairman / Managing Director/ Chief Executive Officer All Banks
Madam / Dear Sir,
Cassette – Swaps in ATMs
Please refer to the circular RBI/2021-22/190 DCM (Plg.) No.S 1117/10.25.007/2021-22 dated March 31, 2022 on the captioned subject.
2. In partial modification to para 3 of the aforesaid circular, it is advised that monitoring the progress of implementation of cassette swap may be delegated by the Board to a Committee of Executives1 of the bank.
Yours faithfully,
(Sanjeev Prakash)
Chief General Manager-in-Charge
Notes:
1 substituted w.e.f. October 1, 2026, consequent to Reserve Bank of India (Commercial Banks-Governance) Amendment Directions, 2026, (Small Finance Banks-Governance) Amendment Directions, 2026, (Payments Banks-Governance) Amendment Directions, 2026 and (Local Area Banks-Governance) Amendment Directions, 2026
