Finally the three leading banks of the country have decided to charge a sum of Rs 20 after the free transactions in Metro cities. SBI, Axis, HDFC banks have capped the free transactions to three in the six metro cities.
The customers in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad would be required to pay Rs 20 from the 4th transactions onwards . RBI has announced to cap the free transactions to three in the metro cities but the banks were allowed to limit the free transactions accordingly.
The three banks have decided to go with the Apex bank and implement the rule from 1st December onwards. However the SBI had made the rule effective from 1st November only. Axis bank has more 12,000 ATM all over the country. However SBI, the bank has also raised the number of free usage on its home network from five to nine, if a customer does not visit a branch during the month.