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of <h1>Cash Replenishment Agencies and WLATM Operators Must Keep Separate Bank Accounts for ATM Cash: Section 194N.</h1> The Central Government, in consultation with the Reserve Bank of India, has specified that Cash Replenishment Agencies (CRAs) and franchise agents of White Label Automated Teller Machine Operators (WLATMOs) must maintain separate bank accounts solely for ATM cash replenishment purposes. WLATMOs are required to provide monthly certification to banks confirming that these accounts have been examined and reconciled with the cash deposited in ATMs. This notification, issued under section 194N of the Income-tax Act, 1961, has retrospective effect from September 1, 2019. It is certified that the retrospective application does not adversely affect any person.
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