New Delhi: The Reserve Bank of India (RBI) has changed the ATM rules with regard to cash withdrawal.
Some of the revised rules include a new limit on free ATM transactions, increased charges for transactions beyond the free permissible limit per month and an increase in the interchange fee per transaction among others.
Here are 5 big changes related to ATM withdrawals:
The changes were announced on the basis of the suggestions of a committee set up by RBI to review the entire gamut of ATM charges and fees in June 2019.
“The recommendations of the panel were comprehensively examined. It is also observed that the last change in interchange fee structure for ATM transactions was in August 2012, while the charges payable by customers were last revised in August 2014. A substantial time has thus elapsed since these fees were last changed,” the RBI said in a circular.
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