Free ATM cash withdrawal from April 1, 2009

Free ATM cash withdrawal from April 1, 2009

BS Reporter / Mumbai March 11, 2008

Customers can withdraw cash from any ATM free of cost from April 1, 2009.

The Reserve Bank of India (RBI) on Monday directed banks to permit customers of one bank the free use of ATMs of other banks for all transactions from April 1, 2009. Meanwhile, customers can now walk into any bank ATM and check their account balance free of cost, according to an RBI notification.

The central bank, in a draft circular on ATMs in February, had proposed that customers should be able to access any ATM installed in the country free of charge through an equitable cooperative initiative by banks.

The central bank had rejected banks