Withdrawing Money from ATMs can be Expensive Now ! Know Details

If you too withdraw cash from ATMs every month or pay in cash instead of using digital payments, then this news may surprise you. Now, withdrawing money from ATMs can be expensive. Because the Reserve Bank of India is going to increase the charges for withdrawing money from ATMs.

At present, RBI is providing facilities for withdrawing rupees 5 times a month without any extra charge. But now the RBI is planning to increase the charges on withdrawals and ATM interchange fees after these 5 transactions. This means that you have to spend more money to withdraw money from an ATM.

A national media report, quoting people familiar with the matter, said that NPCI has now recommended raising its charge for cash withdrawals from the current Rs 21 to Rs 22. Apart from this, NPCI has also recommended an increase in ATM interchange fee from Rs 17 to Rs 19 for cash transactions. Interchange fee is charged for withdrawing more than the transaction limit from other bank’s ATMs. That means it is a fee paid by one bank to another bank for using ATM services.

According to the report, the cost of running ATMs in non-metro cities is rising rapidly due to rising inflation and rising cost of borrowing at a rate of 1.5-2 % in the last two years, higher expenditure on transportation, cash replenishment and expenses.

Humbly Request To All Visitors!
If you found above both downloading link expired or broken then please must inform admin by fill this Contact Us! Form