Tamil Nadu: SBI closes ATM operations for 48 hrs after fraud

The State Bank of India (SBI), India's largest lender, has halted the operation of its ATMs in Tamil Nadu after a two-member gang exploited technical flaws and stole at least Rs 48 lakh.

Customers of SBI are unable to withdraw funds from ATMs because the bank's management decided to halt ATM operations as a precautionary measure.

The Mumbai-based bank has put posters at ATM locations informing customers that the cash withdrawal facility in recyclers, i.e., cash deposit machines (CDM), had been temporarily disabled due to a technical error.