RBI curbs free usage of cross-bank ATMs
MUMBAI (Reuters) - The Reserve Bank of India reduced free usage of other bank automated teller machines (ATMs) to three per month from five as the number of such machines has increased to 160,000 by March-end from 27,000 seven years earlier, it said on Thursday.
The reduction will, however, not be applicable to customers having basic or small savings bank accounts as well as for ATMs located outside Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad.
The RBI also allowed banks to levy ATM charges beyond 5 transactions for the same bank's account holders.
(Reporting by Suvashree Dey Choudhury; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this
- UPDATE 11-Total CEO de Margerie killed in Moscow as jet hits snow plough
- UPDATE 3-Ocwen shares slide after NY finds backdated foreclosure letters
- Indiana police charge suspect who may have killed for decades
- Total CEO de Margerie killed in Moscow as jet hits snow plough
- Pistorius starts five-year term for killing Reeva Steenkamp
As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article