It's a service that lets you withdraw or deposit cash at local shops and business correspondent outlets using just your UPI app. Think of it as turning any participating shop into a mini-ATM.
Business correspondent outlets, authorized local grocery stores, pharmacies, mobile recharge shops, and other merchants who have enrolled in the program with participating banks.
Simply visit a participating outlet, tell them how much cash you need, scan their QR code with your UPI app, enter the amount, confirm with your PIN, and collect your cash.
This depends on two things: the outlet's available cash (they might not have large amounts) and your bank's daily withdrawal limits. Most outlets can handle withdrawals from ₹100 to ₹10,000.
You have a few options: try a smaller amount, find another participating outlet nearby, or come back later when they've restocked their cash.
Yes, you can deposit cash at participating outlets. The money gets credited to your linked bank account immediately after confirmation.
There might be small convenience fees charged by the outlet (usually ₹5-20), similar to what some ATMs charge. The fee structure is decided by the outlet and their bank partner.
No, you only need your phone with the UPI app. No cards, no additional documents, no lengthy forms to fill.
Your UPI app will show nearby cash-enabled outlets on a map or list. You can also look for "UPI Cash Point" or "BC Outlet" signage at local shops.
It's as safe as regular UPI transactions since it uses the same security protocols. Plus, you're dealing with known local businesses in familiar neighborhoods rather than isolated ATM locations.
You can use this service whenever the participating outlet is open and has sufficient cash available. Most shops have longer operating hours than banks.
Register as a business correspondent with a participating bank, complete their application process, get the necessary equipment and training, and obtain authorization to offer cash services.
Maintain adequate cash for customer withdrawals, follow Know Your Customer (KYC) procedures, provide transaction receipts, reconcile daily transactions with your bank partner, and ensure secure cash handling.
Follow the standard dispute resolution process provided by your bank partner. Keep detailed transaction records, assist customers with complaint registration, and work with the bank to resolve issues promptly.
Verify that customers have sufficient account balance before processing withdrawals, maintain adequate cash float based on expected demand, and ensure proper reconciliation of all cash in/out transactions with your bank partner.
A smartphone or tablet with UPI app, reliable internet connection (mobile data or WiFi), secure cash storage (drawer/safe), receipt printer (optional), and proper signage indicating UPI cash services availability.
Follow your bank partner's reconciliation process: match physical cash with digital transaction records, submit daily transaction reports, account for any discrepancies, and maintain audit trails for all transactions.
Training covers UPI transaction processing, customer verification procedures, dispute handling protocols, cash management best practices, and regulatory compliance requirements as provided by your bank partner.
Yes, you need to maintain a minimum cash float as specified by your bank partner (typically ₹25,000 to ₹1,00,000) to ensure service availability for customers throughout the day.
You earn commission on each cash transaction processed (typically ₹2-10 per transaction), benefit from increased customer footfall to your store, and can cross-sell other products to customers using cash services.
Follow RBI guidelines for cash handling, maintain transaction records for audit purposes, complete mandatory reporting to your bank partner, ensure staff complete required training programs, and adhere to anti-money laundering protocols.
Inform customers that cash withdrawal service is temporarily unavailable, update your status on the bank's system if possible, arrange for cash replenishment from your bank partner, and maintain a log of when services were unavailable.
Report unusual transaction patterns to your bank partner, verify customer identity more thoroughly for large transactions, maintain detailed records of all transactions, and refuse service if you suspect fraudulent activity.
Check with your bank partner about insurance requirements for cash handling, ensure adequate coverage for theft or loss, understand your liability limits for transaction errors, and maintain proper documentation for insurance claims.
Yes, most outlets operate UPI Cash Point services alongside their regular business (grocery, pharmacy, etc.), which actually helps attract more customers and increase overall revenue.
Your bank partner provides technical support hotline, troubleshooting guides for common issues, backup procedures for system outages, and regular maintenance of equipment and software updates.