New Rules of ATM transactions: RBI
By Ankit Sharma
Sep 5, 2014
Print    Email    RSS   

The apex bank of the country – RBI has made certain amendments for the ATM transactions. From past few months it is being reported that free ATM transactions are going to be reduced to three from five. This will be applicable soon in six metro cities Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad.

Every time the customer will make any transaction form non home ATM branch, he will be charged with Rs 15. The cost of transaction is not fixed yet it will be between Rs 15-20. The govt. stated that this will encourage the customers to use the other mediums as well. Indian consumers, on an average, conduct 5-8 transactions every month on an ATM, though there are some who make as many as 80-85 small transactions per month.

The RBI said that from the 1st of November, the rules will in effect. From November onwards the bank will be free to charge for the transactions more than five in a month.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Be familiar with your Cash-Back Credit Card
12 point conduct checklist for bank and...
Must have add-ons for luxury car insurance
Utilise credit card reward points
How Your Credit Card Can Help To Improve...

Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive