Canara Bank launched India’s first OTP facility for ATM cash withdrawals above Rs.10,000


Canara Bank, one of the largest public sector banks in India has launched India’s first one-time password (OTP) facility for ATM withdrawals over Rs.10,000 in a day. This extra security armor will protect the card users from illegally withdrawing money from ATMs (Automated Teller Machine).

Many banks have started taking steps to protect their customers from ATM fraud. On March 15, 2019, The State Bank of India( SBI) has also launched YONO (You Only Need One) Cash Services for customers to withdraw money from ATMs without a card.

Canara Bank is one of the largest public sector banks owned by the Government of India. It is headquartered in Bengaluru. It was established at Mangalore in 1906 by Ammembal Subba Rao Pai. It is one of the oldest public sector banks in the country. The government nationalized the bank in 1969.The Tagline of Canara Bank is “Together we Can”.As of 31 March 2019, the bank had a network of 6310 branches and more than 8851 ATMs which are spread across 4467 centers.