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<keyword id="19976119" type="General" weightage="20" keywordseo="Zee" source="keywords">ZEE</keyword> Entertainment Enterprises Ltd and <keyword id="19914172" type="General" weightage="20" keywordseo="Sony" source="keywords">Sony</keyword> Pictures Networks India on Tuesday said they have settled their disputes related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other. The settlement stems from a mutual understanding between the companies to independently pursue future growth opportunities with a renewed purpose and focus on the evolving media and entertainment landscape, signifying the definitive conclusion of all disputes, the two companies said in a joint statement. ZEE Entertainment Enterprises Ltd and Culver Max Entertainment Pvt. Ltd. (CMEPL) have arrived at a comprehensive non-cash settlement, amicably resolving all disputes related to the merger co-operation agreement and the composite scheme of arrangement, it said. Under the agreement, the companies have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the Singapore International Arbitration Centre (SIAC), and all related legal proceedings initiated in the National Company Law Tribunal (<keyword id="6355809" type="General" weightage="20" keywordseo="nclt" source="Orion">NCLT</keyword>) and other forums, it added. The companies will also withdraw the respective composite schemes of Arrangement from the NCLT and inform the relevant regulatory authorities. In January this year, Sony had pulled out from the proposed USD 10-billion merger with ZEE Entertainment Enterprises Ltd citing failure to meet certain "closing conditions" by the Indian firm. The deal collapsed after over two years of announcing it. Subsequently, the two parties went to the courts. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-be-launched-on-september-9-heres-everything-we-know-so-far/articleshow/112828818.cms">Apple iPhone 16 to be launched on September 9 – here’s everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Zee and Sony amicably settle disputes over their failed merger, withdraw claims

<ul class="summary-list"><li>My bank has lowered the APY on my high-yield savings account by almost half a percent recently.</li><li>I'm not happy that my cash is generating less returns now, and I don't know what to do.</li></ul>It's never pleasant to receive an email from your bank informing you that the interest rate on your <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/best-high-yield-savings-accounts-rates-right-now">high-yield savings account</a> is decreasing.Unfortunately, like many Americans happy to collect a robust yield on their savings, I've gotten three of these notifications in the last three months as the Federal Reserve has begun to lower interest rates. From August until the end of October, the annual percentage yield (APY) on my high-yield savings account has fallen from 4.6% to 4.2%.I opened this bank account almost two years ago, right after graduating from college. Back in 2023, with inflation still elevated, interest rates were at their highest levels since the Great Financial Crisis, and it seemed like most banks were offering near-5% yields on savings. After paying off my bills every month, I would put the remainder of my paycheck into my high-yield savings account and watch the number creep up.Now, it looks like the days of a 5% APY are in the past. In September, the Federal Reserve dished out a 50 basis-point rate cut, signifying the beginning of the end for high rates. Continuing this trend, the central bank's chair, Jerome Powell, announced a <a target="_blank" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">25 basis-point cut</a> last week, and is expected to slash rates further in the months ahead.Is there anything I can do about the state of my savings account, or do I have to watch my yield erode away slowly? Curious, I asked three financial experts for their advice on this topic.As a famous politician once said, we didn't just fall out of a coconut tree. Context is important. Patti Black, a financial advisor at Savant Wealth Management, reminded me that the recent high interest rate environment is a marked departure from the last decade, where interest rates were near zero and there was no yield on cash to be found. So, while yields dropping from nearly 5% might seem like a tough pill to swallow for someone like me who just opened an account in the last couple of years, it's still a pretty good deal when you consider where rates have been in the past.I didn't have a bank account during the post-2008 zero-interest rate policy era, so this was helpful context to have. Perhaps my generation is indeed coddled — first by our parents and now by Jerome Powell's post-pandemic rate hikes.Black also suggested that I switch up my perspective. While a rate-cutting cycle means less return on my cash, it also means lower borrowing costs for a car loan or a mortgage, which is good news for the housing market.But there are other options for where I can have my money sit, Black said. Of course, one alternative is a <a target="_blank" href="https://www.businessinsider.com/cd-rates-certificate-deposit-high-interest-where-to-invest-now-2024-10">certificate of deposit</a> (CD), which is essentially a savings account that holds money at a fixed interest rate for a fixed period of time. CDs generally pay higher interest rates than savings and money market accounts in exchange for locking up your money for anywhere between three months to many years. However, my hands are a little tied. A well-known rule of thumb is to keep three to six months of living expenses available in your bank account as an emergency fund (read: liquid and highly accessible), so it's not a good idea to lock up money in my high-yield savings account for a prolonged period time. I could withdraw my money from the CD if needed, but I'd have to pay back some or all of the interest I'd generated up until that point as a penalty.With this in mind, Black said that sometimes it doesn't matter what the rate on the high-yield savings account is — it's the best place to park cash for easy access.Armed with this context, I still wanted to see if there were more ways to put my cash to work for me.Daniel Milan, financial advisor at Cornerstone Financial Services, had some more thoughts on CDs. A three-month CD could be a good option if I were comfortable locking up my money for that period of time, according to Milan.My bank didn't offer CDs, so I would need to open up a new bank account, which isn't necessarily a bad thing. Some financial experts recommend having <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/how-many-savings-accounts-can-you-have">multiple bank accounts</a> for different savings goals. Searching online, I saw <a target="_blank" href="https://www.businessinsider.com/personal-finance/banking/best-3-month-cd-rates">multiple options</a> yielding over 4.6%.However, Milan didn't recommend locking up my money for longer. Usually, the longer the term of the CD, the higher the rate. But that's not always the case in today's market."In this current environment, it makes no sense to go further out than three months on a CD because the three-month CD is paying you more than a one-year or two-year right now," Milan said.Looking at CD offerings from a variety of banks, I discovered that this was indeed true — generally, the longer the CD duration, the lower the rate, especially after a 1-year duration. Rates on 6-month and 9-month CDs were also attractive depending on the bank, but again, my liquidity needs take those off the table.Many of the banks I looked at didn't offer short-term CDs, either. For example, one option offered a 4.5% APY on an 11-month CD, 3.7% on a 2-year, and 3.5% on a 5-year.It wouldn't make sense to move my money out of my savings account without high enough compensation for the lower liquidity."You're not getting paid for that illiquidity," Milan told me.Short-term <a target="_blank" href="https://markets.businessinsider.com/bonds">Treasury bills</a> are another investment option for higher yield, and they offer more liquidity than CDs, according to Richard McHorter, a private wealth advisor at SRM Private Wealth. A three-month Treasury bill currently yields 4.43%.There's also the added benefit of tax savings, which is especially appealing for McHorter, who lives in California: "If you're a resident of a high-income tax state, I would be looking at Treasury bills."As a resident of New York City, the idea of lower taxes certainly appeals to me. If I were to buy Treasury bills, I would only need to pay federal taxes, bypassing state and local income taxes.McHorter also said that there's a lot of uncertainty about interest rates right now, and they could actually start going back up again. Trump's proposed <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-hit-company-stock-profits-hardest-china-investing-manufacturing-2024-11">tariff policies</a> could increase inflation, in which case the Fed would probably increase rates to combat an overheating economy, he said.If I buy a three-month Treasury bill, I can reassess the inflation situation when I get my money back in three months and reinvest it accordingly, McHorter said.When it comes to interest rates and inflation, pay attention to the data and don't try to predict the market with your money, Milan advised. <a target="_blank" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">Jerome Powell</a> himself has said that it's too soon to say how the election results could reshape markets and interest rates."My advice to anybody would be: just be diligent in reading and interpreting the data as it comes out," Milan said. Watch inflation data and Fed commentary, and base your investing decisions on the information you have at hand.It feels like the market is a bit in limbo as everyone waits for the effects of the election to ripple through, but as Black mentioned, not taking any action right now isn't the worst decision.What's next? For starters, I'm going to sit down and crunch some numbers for what three to six months of living expenses look like for me and keep that in my high-yield savings account. With the money I have left over, I have some good options.Are you a Gen-Zer who has recently been faced with an investing predicament? Feel free to reach out to Christine at <a target="_blank" href="mailto:cji@businessinsider.com">cji@businessinsider.com</a> to share your story.

The interest rate on my high-yield savings account keeps dropping. I asked 3 experts how to earn more on my cash.

New Delhi: 78 per cent of consumers now prefer to do most of their banking digitally through <keyword id="19915384" type="General" weightage="20" keywordseo="mobile-apps" source="keywords">mobile apps</keyword> or websites, according to the Alkami report. This shift is part of a broader trend towards <keyword id="21227659" type="General" weightage="20" keywordseo="cashless-transactions" source="keywords">cashless transactions</keyword> and <keyword id="21012835" type="General" weightage="20" keywordseo="contactless-payments" source="keywords">contactless payments</keyword>, which have become the default for many, especially since the COVID-19 pandemic. According to the report, nearly 80 per cent of financial institutions have seen an increase in cashless transactions over the past two years. This change has been accelerated by the pandemic, with many consumers opting for digital payments to avoid handling cash. About 60 per cent of these institutions noted that the volume of cashless transactions has surged by more than 20 per cent. Cashless payments aren't a new concept--personal checks and credit cards have been around for decades. However, today's digital payments, whether made through a smartphone, laptop, or tablet, are quickly becoming the standard. The convenience and safety of these transactions, especially in a post-pandemic world, have made them more popular than ever. Allison Cerra, Chief Marketing Officer at Alkami Technology, said, "The banking leaders of the future will be those that can harness data for the best use, gain a holistic view of their relationships, and meet the rapidly changing needs of digital consumers." With more people turning to <keyword id="20028215" type="General" weightage="20" keywordseo="digital-banking" source="keywords">digital banking</keyword>, there's been a noticeable decline in the use of ATMs and checks. Chad Rogers, Executive Vice President at Connexus Credit Union, noted that even millennials are moving away from traditional banking methods. "What we're seeing, even with our millennial users, is that they're no longer ordering checks, or making cash withdrawals from our ATMs as we would expect. Instead, they are self-serving from home or wherever they are. They're moving money through our digital banking platform," he said. Interestingly, even though fewer people are visiting bank branches in person, their overall engagement with banks has increased. Thanks to the ease of mobile and <keyword id="19998466" type="General" weightage="20" keywordseo="online-banking" source="keywords">online banking</keyword>, customers are now interacting with their banks more frequently, often on a daily basis. While cashless transactions are on the rise, the adoption of cryptocurrency is growing more slowly. Around 21 per cent of financial institutions reported that their customers are asking for Bitcoin products and services. Although this is still a relatively small percentage, 35 per cent of banks believe that offering cryptocurrency options could give them a competitive edge. Banks are also feeling the heat from fintech companies like PayPal, Stripe, and Venmo. Jamie Dimon, CEO of JPMorgan Chase, has called these fintechs "enormous competitive threats" to traditional banking. The popularity of fintechs has only increased during the pandemic, with many consumers turning to these platforms for their financial needs. Despite the competition, some banks are partnering with fintechs to stay relevant. According to the report, 50 per cent of banks and 40 per cent of credit unions have teamed up with fintech companies in the past three years to enhance their digital offerings. Looking ahead, many experts believe that the future of banking will revolve around personalised experiences. However, only about a quarter of financial institutions are currently using hyperpersonalization to gain a competitive advantage. There's a growing opportunity for banks to leverage personalised recommendations and offers to better serve their customers. Data is also playing a crucial role in this digital transformation. Most banks are now using data analysis to improve customer experiences, guide decision-making, and reduce development time and costs. By unlocking the potential of customer data, banks can better anticipate their clients' needs and offer tailored solutions. Allison Cerra Chief Marketing Officer at Alkami Technology, said, "We are now at a place where technology has democratised financial advice and counsel. It is no longer just the privileged upper class who can afford to get financially fit and prepare for the future."

78 pc of consumers choose digital banking over cash transactions

<ul><li><keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> has said that 25% of the amount of I-CRR maintained by banks will be released on Saturday and another 25% on September 23. </li><li>Releasing money in tranches helps to smoothen out liquidity and avoid sudden gush of funds, says Madan Fadnavis of Bank of Baroda.</li><li></li></ul> The Reserve Bank on Friday decided to discontinue the <keyword id="18349664" type="General" weightage="50" keywordseo="incremental-cash-reserve-ratio" source="Orion">Incremental Cash Reserve Ratio</keyword> (I-CRR), which was put in place to absorb surplus liquidity following the withdrawal of Rs 2,000 currency notes, in a phased manner beginning Saturday. On August 10, the RBI mandated banks to maintain an incremental cash reserve ratio (I-CRR) of 10% on the increase in their net demand and time liabilities (<keyword id="312584" type="General" weightage="20" keywordseo="NDTL" source="Orion">NDTL</keyword>) between May 19, 2023 and July 28, 2023. The measure was intended to absorb the surplus liquidity generated by various factors, including the return of Rs 2,000 notes to the banking system. "On a review, it has been decided to discontinue the I-CRR in a phased manner," the central bank said in a statement. There is surplus liquidity in system of around Rs 75,000 cr of late, according to Madan Sabnavis, chief economist at Bank of Baroda. He adds, "Releasing money in tranches helps to smoothen out liquidity and avoid sudden gush of funds." Based on an assessment of current and evolving liquidity conditions, it has been decided that the amounts impounded under the I-CRR would be released in stages so that system liquidity is not subjected to sudden shocks and money markets function in an orderly manner, it added. The RBI said 25% of the amount of I-CRR maintained by banks will be released on Saturday and another 25% on September 23. The rest will be released on October 7. While announcing the I-CRR, RBI Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> had indicated that the provision was a temporary measure for managing the liquidity overhang. The RBI had announced that the I-CRR would be reviewed on September 8, 2023, or earlier with a view to returning the impounded funds to the banking system ahead of the festival season. Following the withdrawal of the Rs 2,000 notes, the liquidity with the banks had surged significantly, the I-CRR was aimed to absorb the excess cash. As much as 93% of Rs 2000 currency notes that were in circulation on May 19 -- the day when the currency was withdrawn from circulation -- have been returned to banks. The advance tax payments are due next week which will put pressure on liquidity further. The total value of Rs 2000 banknotes received back from circulation is Rs 3.32 lakh crore up to August 31, 2023. Fadnavis adds, "The question is whether this will be adequate next week when there are tax outflow. This is because the amount coming in of around Rs 25-27,000 cr will cover the outflow through the V3R today and will not leave much surplus." (With text inputs from PTI)

RBI decides to withdraw incremental CRR in phased manner and release it by Oct 7

<ul class="summary-list"><li>GameStop stock plunged on Wednesday after revealing a 31% revenue decline in its second-quarter earnings.</li><li>The video game retailer's revenue drop comes amid the industry's shift to digital game downloads.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/gme-stock?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">GameStop</a> investors received a sobering wakeup call on Wednesday after the video game retailer saw its stock plunge as much as 18%.The decline came after the struggling retailer announced its second-quarter earnings results after the market close on Tuesday, along with another round of share dilution.GameStop's earnings revealed a sharp 31% revenue decline to $798 million as the video game industry accelerates its transition from physical game sales to digital game downloads.This ongoing shift likely sparked GameStop's recent pivot to selling retro video games for nostalgic consoles like the Nintendo 64 and Sega Genesis, as digital sales cannot replace them.Aside from the sharp revenue decline, GameStop reported a slight profit surprise with adjusted earnings per share of $0.01 higher than the -$0.09 estimate from Wall Street.The only problem is that GameStop's profits were driven by the interest earned on its $4.2 billion pile of cash rather than its underlying retail business.GameStop reported $22 million in operating losses during the quarter, which are directly related to its retail business. On the other hand, the company reported $39.5 million in net interest income.But that elevated interest income can't last forever, with the Federal Reserve set to make its first interest rate cut since 2019 next week. A significant decline in interest rates over the next year could plunge GameStop back into negative profit territory.GameStop addressed this dynamic in its 10-Q report filed with the SEC on Tuesday.In it, the company said its profitable quarter was "primarily attributable to interest income increasing as a result of higher returns on invested cash, cash equivalents, and marketable securities, as well as return on cash received from the issuance and sale of shares of our common stock from the ATM Offering."The ATM offering references GameStop's recent share sales, which it was able to complete after Keith Gill of RoaringKitty fame returned to social media in May and <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/roaring-kitty-nearly-doubles-gamestop-position-to-9-million-shares-2024-6">generated a lot of enthusiasm for GameStop stock,</a> sending shares on another roller coaster ride reminiscent of the meme-stock boom in 2021.But the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-roaring-kitty-keith-gill-livestream-return-gme-2024-6">hype quickly died down,</a> and now GameStop needs to chart its strategy.Part of its path forward is raising even more cash from investors. The company disclosed on Tuesday that it had filed for an offering of up to 20 million shares, putting further pressure on the stock price.Investors are still waiting for GameStop CEO Ryan Cohen's turnaround plan to take hold, and some of them appear to be sticking with him."I believe in Ryan Cohen's GameStop. Adding more…" one <a target="_blank" class="" href="https://www.reddit.com/r/GME/comments/1feeuyp/i_believe_in_ryan_cohens_gamestop_adding_more/">Reddit user posted on Wednesday,</a> along with a screenshot of an unfilled limit buy order for 100,000 shares of the company.

GameStop craters as earnings show sales falling and profits driven mostly by its huge cash pile 

<ul class="summary-list"><li>In the past few years, Germany has become a hotbed for ATM bombings, the Financial Times wrote.</li><li>That's because Germans still favor cash over electronic payments, making ATMs ripe targets.</li></ul>The German preference for physical currency may be costing the country dearly, as Europe's largest economy has seen an explosion in crime that features ATM bombings, <a href="https://www.ft.com/content/5a03b08d-dc7e-4115-b6aa-139e1ec39b99" target="_blank" rel="noopener">the Financial Times</a> reported. While Germans have long favored buying things with cash instead of cards or other form of electronic payments, organized criminals have exploited this habit in the last few years.Last year, 496 ATMs were blown up as part of cash-grab heists, a 27% increase from 2021, the Federal Criminal Police Office told the FT. On average, such raids could yield 100,000 euros, equivalent to $110,686.5.That translated to 30 million euros that were stolen via ATM bombings last year, up 53% from a year earlier.More than half of Germans prefer physical banknotes over cards or digital tender, meaning that the country has over 55,000 ATMs filled with high-denomination euros. For the culprits, it's a unique target, as other European states undergo a decline of cash machines.Though no one has been seriously injured or killed during these bombings, they are not risk-free ventures, FT wrote. Often, the culprits themselves get hurt in the explosion, while the car ride away is characterized by high speeds and the risk of fiery collisions. It's a danger made worse by fuel canisters the robbers carry for refueling, which also discourages officers from shooting at the vehicle.The German response has been largely fragmented. Efforts to implement effective ATM and law enforcement standards are diluted by the fact that Germany has over 1,500 lenders, while each province leads its own policing task force.And while countries such as the Netherlands have implemented protection systems that glue cash together in the case of a raid, this hasn't been carried out in Germany over health and safety considerations.Meanwhile, attempts to fortify ATMs against earlier types of detonations were thwarted when the criminals switched to different explosives, according to the FT.Still, some success has occurred, with police groups in one province learning to analyze potential escape routes as a way to prepare. And prosecutors of those captured are also starting to add attempted murder charges as the explosions put nearby residents in danger.

German ATMs keep getting bombed as a crime wave exploits the country's preference for cash

<ul class="summary-list"><li>Binance.US urged its customers to withdraw cash from the crypto exchange in a recent notice.</li><li>It said its partner banks are preparing to shut off fiat withdrawal channels.</li></ul>Binance's US arm is urging its customers to withdraw their cash from the crypto exchange by next week, as the Securities and Exchange Commission tightens the screws in its "ideological campaign" against the industry.In a <a href="https://twitter.com/binanceus/status/1666996908651323393" target="_blank" rel="noopener">tweet</a> Thursday evening, Binance.US alerted customers that its banking partners would be shutting off withdrawal by June 13, which could prevent the exchange from accepting deposits or issuing withdrawals in US dollars. It urged American customers to withdraw any fiat cash by the June 13 deadline, adding withdrawals could take longer than usual due to elevated activity on the platform. Customer deposits are still safe, it said, as assets are backed on a 1:1 ratio.After June 13, Binance.US will become a crypto-only platform until it can find "more stable" banking partners, it said."The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. Binance.US and our business partners have not been spared in the use of these tactics, which has created challenges for the banks with whom we work," the exchange said in a statement."The SEC has brought unjustified civil claims against our business, from which we will continue to vigorously defend ourselves, our customers," it later added.<a href="https://markets.businessinsider.com/news/currencies/sec-sues-binance-ceo-changpeng-zhao-crypto-securities-regulation-2023-6">Binance is facing 13 charges from the SEC</a>, after being scrutinized by regulators for months over its compliance with US securities laws. Among other violations, the SEC has accused the firm of misrepresenting trading controls on Binance.US, as well as secretly allowing "high-value" US clients to trade on Binance.com, though American customers are supposed to be restricted from its main platform.

Binance.US tells customers to withdraw their cash from the exchange as the SEC pursues its 'ideological' attack on the crypto industry

Mumbai, June 8 (IANS) Soon, you may be able to withdraw cash from an <keyword id="48577" type="TECHNOLOGY" weightage="20" keywordseo="ATM">ATM</keyword> without touching any part of the machine. AGS Transact Technologies, a provider of cash and digital payment solutions and automation technology, on Monday said it has successfully developed and tested a touchless ATM solution in light of the Covid-19 pandemic. The 'contactless' solution, currently under demo at interested banks, enables a customer perform all the steps required to withdraw cash from an ATM using the mobile app itself. The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank's mobile application. This includes entering the amount and mPIN required to dispense the cash from the ATM machine. According to the company, the QR code feature makes cash withdrawals quicker and more secure, and negates the chances of compromising the ATM Pin or card skimming. "The new Touchless ATM solution is an extension of the flagship QR Cash solution which ensures safety of the users and will provide a seamless cash withdrawal experience with enhanced security," said Ravi B. Goyal, Chairman and MD, AGS Transact Technologies Ltd. With minimum investment, the banks can enable this solution for their ATM networks by upgrading the existing software. AGSTTL has so far installed, maintained and managed a network of over 72,000 ATMs across the country and also provides customised solutions to leading banks. The company earlier introduced UPI-QR based Cash withdrawal solution in partnership with Bank of India. This is how the solution works. Open the Bank mobile application on your smartphone and select QR Cash Withdrawal. Enter the amount you wish to withdraw on the mobile app and scan the QR code on the ATM screen. Next, confirm the amount by clicking on 'proceed' in the app and enter the mPin to authenticate the transaction. Now collect the cash and receipt and you are done. "The seamless, cardless and touchless withdrawal method is designed to provide easy transaction flow, without the need to touch the ATM screen or enter the pin," said Mahesh Patel, President and Group Chief Technology Officer, AGS Transact Technologies. --IANS na/

Customers will soon be able to withdraw cash from ATMs using smartphones

The popularity of online wallets and UPI apps has made payments quick and easy. Customers no longer have to worry about carrying cash or debit cards with them while going out. However, there are still many places that do not accept online payments and require cash. If you are in need of cash and do not have your <keyword id="6356475" type="UNKNOWN" weightage="20" keywordseo="debit-card">debit card</keyword> with you, there is still a way how you can get cash. Banks like SBI and ICICI allow users to easily <keyword id="2336858" type="PERSON" weightage="20" keywordseo="withdraw-cash">withdraw cash</keyword> without a debit card. Customers can also use PhonePe to withdraw cash from any bank account. <keyword id="7436655" type="UNKNOWN" weightage="20" keywordseo="how-to-withdraw-cash">How to withdraw cash</keyword> from <keyword id="8887222" type="UNKNOWN" weightage="20" keywordseo="atm-without-debit-card">ATM without debit card</keyword> State Bank of India customers If you are a State Bank of India user, you can withdraw cash by following the below steps: 
 
 <div type="image" title="SBI 1" msid="74547693" hostid="261"></div>





 <ul><li>Download and install the YONO app on your <a href="https://play.google.com/store/apps/details?id=com.sbi.lotusintouch&amp;hl=en_IN">Android</a> or <a href="https://apps.apple.com/in/app/yono-sbi-banking-and-lifestyle/id1231393474">iOS</a> device.</li><li>Enter your MPIN.</li><li>Open the app and enter your account details to login.</li><li>Now, open the app and click on ‘YONO Cash’.</li><li>Then, click on ‘ATM’.</li></ul>
 
 <div type="image" title="SBI 2" msid="74547716" hostid="261"></div>





 <ul><li>Now, enter the amount and click on ‘Next’.</li><li>Enter a six-digit YONO Cash Pin of your choice and click on ‘Next’.</li><li>Click on ‘I agree’ and then click on ‘Confirm’.</li></ul>You will receive a YONO Cash transaction number. You will also be able to see SBI ATMs that support YONO Cash once you have initiated the transaction. <ul><li>Go to an eligible SBI ATM and select ‘Card Less Transaction’.</li><li>Now, enter your six-digit YONO Cash transaction number and the six-digit PIN.</li></ul>ICICI Bank customers 
 
 <div type="image" title="ICICI" msid="74547728" hostid="261"></div>





 <ul><li>Download the iMobile app for <a href="https://play.google.com/store/apps/details?id=com.csam.icici.bank.imobile&amp;hl=en_IN">Android</a> and <a href="https://apps.apple.com/in/app/imobile-by-icici-bank/id375276006">iOS</a>.</li><li>Click on ‘Services’ at the bottom.</li><li>Now, click on ‘Cardless Cash Withdrawal’.</li><li>Now, enter the amount and a four-digit PIN of your choice.</li><li>Then, click on ‘Submit’.</li><li>Confirm the details and click on ‘Submit’.</li><li>You will receive an OTP.</li><li>Go to an ICICI Bank ATM and select ‘Cardless Cash Withdrawal’.</li><li>Then, enter your mobile number and four-digit PIN.</li></ul>PhonePe Customers of all banks can use the PhonePe app to withdraw cash from their account. For this, you can use the PhonePe ATM service. 
 <div type="image" title="PhonePe 1" msid="74547743" hostid="261"></div>





 <ul><li>Open the PhonePe app.</li><li>Click on ‘Stores’.</li><li>Now, click on ‘PhonePe ATM’.</li><li>Select a store and click on ‘Withdraw Cash’.</li></ul>
 
 <div type="image" title="PhonePe 2" msid="74547758" hostid="261"></div>





 <ul><li>Enter the amount and select the bank account from which you want to debit the money.</li><li>Now, click on ‘Pay to Withdraw’ and enter your PIN.</li><li>Then, go to the store and collect your cash.</li><li>Once you’ve collected the cash, click on ‘I’ve got cash’</li></ul>See also: <a href="https://www.businessinsider.in/business/startups/news/phonepe-logs-4000-crore-transactions-a-day-after-it-shifts-from-yes-bank-to-icici/articleshow/74545359.cms">Phonepe logs ₹4,000 crore transactions a day after it shifts from Yes Bank to ICICI</a> <a href="https://www.businessinsider.in/tech/apps/how-to/how-to-open-a-cryptocurrency-trading-account-in-india/articleshow/74490893.cms">How to open a cryptocurrency trading account in India</a>

How to withdraw cash from ATM without debit card

<ul class="summary-list"><li>Germany has a disproportionately high number of ATMs, as locals prefer to use cash to bank cards.</li><li>Thieves are taking advantage of this, blowing up the cash machines to steal money.</li></ul>Exploding cash machines are becoming a familiar sight in Germany, as a wave of crime has hit the country, <a href="https://www.reuters.com/world/europe/cash-loving-germans-fret-over-exploding-atms-cross-border-crime-wave-hits-2023-04-14/" target="_blank" rel="noopener">Reuters reported</a>.The town of Ratingen, near Düsseldorf, saw two such explosions on the same day last month, as thieves targeted one Santander bank branch and one Deutsche Bank branch.But the problem has spread around the country, with the Federal Ministry of the Interior saying that there were 496 ATM explosions across Germany in 2022, <a href="https://www.capital.de/wirtschaft-politik/rekord-bei-geldautomaten-sprengung--politik-erwaegt-gesetz-fuer-banken--33120320.html#:~:text=2022%20hat%20die%20Zahl%20der,die%20Zahl%20mehr%20als%20verzehnfacht." target="_blank" rel="noopener">according to German news outlet Capital.</a><a href="https://www.bundesbank.de/en/press/press-releases/payment-behaviour-in-germany-in-2021-894120" target="_blank" rel="noopener">Cash is king in Germany</a>, and many Germans prefer to use it over bank cards. The country has 53,000 ATMs, per Reuters, and investigators believe that this, as well as Germany's highways, or Autobahns, much of which have no speed limit, are why the thieves are targeting the country.According to Reuters, investigators believe Dutch criminal gangs are likely to be behind the attack, stealing money from machines before speeding away to the Dutch border.As such, the North West of Germany is seeing the majority of these attacks, with the the state of North Rhine-Westphalia on the receiving end of 47 incidents so far this year, Reuters reported.According to a 2021 study by the <a href="https://www.bundesbank.de/en/press/press-releases/payment-behaviour-in-germany-in-2021-894120">Deutsche Bundesbank</a>, respondents in Germany used banknotes and coins to make 58% of their payments for goods and services.This is in stark contrast to the USA, where only 14% of people use cash for most or all of their payments, according to the <a href="https://www.pewresearch.org/fact-tank/2022/10/05/more-americans-are-joining-the-cashless-economy/" target="_blank" rel="noopener">Pew Research Centre.</a>

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