So you to be able to withdraw a maximum Rs 5,000 at one time from ATM
Withdrawing money from ATM can be 'expensive'
JUNE 24 (WTN) - It is natural that you should have an account with some bank. At the same time, when you have an account with the bank, you must also be using the ATM. Now, you do not have to keep yourself in a long queue in the bank to withdraw money from your bank account by using ATM. Nowadays, You can easily withdraw money from any ATM by using your debit card, credit card, or mobile banking.
But in the coming times, you may be able to withdraw less money from the ATM at a time than before. And after some concessions, you will have to pay more than before when you withdraw money from the ATM. It is natural that you must have been shocked after reading this. But for your information, let's know that a committee of the Reserve Bank of India has recommended for setting the limit for withdrawing cash from ATM to Rs 5,000 and increase the ATM charge.
Yes, let's know that RBI constituted a committee to review the ATM interchange fee structure. The same committee has submitted its recommendations to the RBI. However, it is not known whether RBI has accepted the committee's report or not?
According to the information received from the media, a committee constituted by the RBI has recommended to increase the inter-change charges on all transactions through ATMs across the country in its report. Not only this, but it has been also recommended in this report that the limit of ATM per transaction should be fixed at Rs 5,000, and a charge should be levied for withdrawing more than this.
At the same time, the recommendation of the committee said that after withdrawing more money than the prescribed amount from ATMs of the cities with the population less than 10 lakh, the charge should be increased by 24 percent.
Explain that the cost of a single branch transaction and a single ATM transaction have also been compared in this report. In its report submitted to RBI, the committee said that due to the long lockdown during the Corona crisis, there has been a significant increase in the number of branch transactions per customer ATM transactions. For this reason, the committee said that the comparison of the cost of a single branch transaction and a single ATM transaction would not be correct.
So, maybe in the coming times, when you go to withdraw money from an ATM, you can withdraw only 5,000 rupees at a time. And on withdrawing more money than that, you have to pay more charge than before. Actually, all this exercise is happening because the maintenance of the ATM has become more expensive than before, while the government wants to promote digital transactions instead of cash transactions. Now, it has to be seen what the RBI decides on the recommendations of the committee?
