Inter-bank Atm Charge
DBS Bank to fine customers with low account balances, citing RBI rules.
Private-sector lender will charge more for withdrawals and transactions
 "DBS Bank to fine customers with low account balances, citing RBI rules.")
RBI allows banks to raise ATM charges to Rs 23 per withdrawal from May 1
The Reserve Bank on Friday permitted banks to increase charges on ATM cash withdrawals beyond the free monthly usage by Rs 2 to Rs 23 per transaction from May 1. Customers are eligible for five free transactions (inclusive of financial and non- financial transactions) every month from their own bank Automated Teller Machines (ATMs). They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs -- three transactions in metro centres and five in non-metro centres. "Beyond the free transactions, a customer may be charged a maximum fee of Rs 23 per transaction. This shall be effective from May 1, 2025," the RBI said in a circular. Currently, banks are allowed to charge Rs 21 per transaction, after a customer exhausts the free transaction limit. The RBI further said the instructions shall also apply, mutatis mutandis, to transactions done at cash recycler machines (other than for cash deposit transactions).
 "RBI allows banks to raise ATM charges to Rs 23 per withdrawal from May 1")
ATM transactions may get costlier as operators seek hike in inter-bank fees
The representation is being led by National Payments Corp of India after meetings were conducted separately for private and public sector lenders
 "ATM transactions may get costlier as operators seek hike in inter-bank fees")
