'Banks cornering customers ATM use surplus'

'Banks cornering customers ATM use surplus'

BS Reporter / Mumbai January 09, 2008

The Reserve Bank of India today said the banks are "cornering" customer surplus by charging high fees on inter-bank ATM transactions in the name of recovering technology costs. Also, banks forming various ATM platforms is a tendency towards cartelisation.

The analysis of expenses incurred for serving customer at the counter and ATMs shows that costs are much less at ATMs, RBI executive director R B Burman said addressing banking technology conference organised by Indian Bank