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)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app