By ATM transaction charges to be hiked: How it affects customers
The Reserve Bank of India (RBI) has allowed banks to hike automated teller machine (ATM) transaction charges on the recommendations of a committee.
— RBI Says (@RBIsays) June 4, 2021
The central bank released a circular on Thursday, allowing banks to hike interchange fees per transaction through ATMs and non-financial transactions as well. Banks will be able to raise ATM transaction charges from August 1, 2021.
RBI has given banks the green signal to allow an increase in interchange fee per transaction from Rs 15 to Rs 17 for financial transactions.
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