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Update: Can Grofers offer cash withdrawals from YES Bank’s POS machines?

Yesterday, grocery delvery startup Grofers announced that it is partnering with YES Bank where it would allow customers to request for a POS machine on delivery to withdraw cash. However, it is contingent on a customer ordering from the service and entering a code to get cash at POS. An earlier report from PTI mistakenly stated that customers will have to make a minimum order of Rs 2,000 on the website or app. YES Bank and Grofers later clarified that there is no minimum order for requesting the POS machine. But it seems the they are still in violation of Reserve Bank of India norms where it says that a customer will be allowed to avail  cash at POS regardless of whether they make a purchase at a store. Such cash withdrawal facility may be provided by banks subject to following…

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