Now, ICICI customers can withdraw cash at shops

ICICI Bank, the country's largest private sector lender, today launched cash withdrawal facility for customers at point of sales(POS) terminals or merchant outlets.
Customers with debit cards will have the option to withdraw cash upto Rs 1000 whether they buy or not buy at merchant outlets.
"The facility will be available to all ICICI Bank debit card holders who can withdraw Rs 1000 a day. Cash can be withdrawn with or without associate purchase transaction at an approved and enabled merchant estasblishment with POS terminals", the Bank said.
In July 2009, RBI issued guidelines in which cash withdrawals of upto Rs 1000 a day from POS terminals were permitted through all debit cards issued in India.RBI, however, had left it to the bank's discretion to decide on the fee.
Union Bank of India, the first bank to start this facility a year back, albeit only in rural areas, said the experience was not encouraging.(BS 20.01.2011)