RBI constitutes six-member panel to review ATM interchange fee structure
5 years, 6 months ago

RBI constitutes six-member panel to review ATM interchange fee structure

Live Mint  

New Delhi: The Reserve Bank of India on Tuesday constituted a six-member committee to review the ATM interchange fee structure with a "view to give a fillip to the ATM deployment in the unbanked areas". In order to address these, it has been decided to set up a Committee involving all stakeholders, under the chairmanship of the Chief Executive Officer, Indian Banks’ Association, to examine the entire gamut of ATM charges and fees," RBI said in a press statement. The terms of reference of the committee are as under: 1) To review the existing structures and patterns of costs, charges and interchange fees for ATM transactions. 2) To review the overall patterns of usage of ATMs by cardholders and assess the impact, if any, on charges and interchange fees.

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History of this topic

Is it finally time for a hike in ATM interchange fees?
5 years, 6 months ago

Is it finally time for a hike in ATM interchange fees?

Live Mint  

The Reserve Bank of India recently set up a committee to review the ATM interchange fee. V Balasubramanian, President - Merchant & Terminal Business, FSS Balasubramanian V, Confederation of ATM Industry Rate hike will add more ATMs, promote inclusion We have been pushing for a hike in interchange rate as new regulatory requirements, coupled with low interchange rates, were making …

RBI to review ATM charges: How will it affect your money withdrawal?
5 years, 6 months ago

RBI to review ATM charges: How will it affect your money withdrawal?

Live Mint  

Mumbai: Recently, the Reserve Bank of India set up a committee to review the automated teller machine interchange fee. The committee will review the existing structures and patterns of costs, charges and interchange fees for ATM transactions, the overall patterns of usage of ATMs by cardholders and assess the impact on charges and interchange fees, assess the entire gamut of …

SBI ATM withdrawal rules: Free transactions, charges and other details
5 years, 6 months ago

SBI ATM withdrawal rules: Free transactions, charges and other details

Live Mint  

The charges you pay for using Automated Teller Machines may change soon. Currently, the State Bank of India offers eight free transactions to regular savings bank account holders, including five transactions at SBI ATMs and three at other bank ATMs. In non-metros, such account holders get 10 free transactions, including five at SBI ATMs and five at others. The bank …

Is RBI planning to wave off ATM charges too? Central bank forms review panel after removing NEFT, RTGS fees
5 years, 6 months ago

Is RBI planning to wave off ATM charges too? Central bank forms review panel after removing NEFT, RTGS fees

ABP News  

Days after the Reserve Bank of India removed charges levied against National Electronic Funds Transfer and Real-time Gross Settlement and directed banks to pass on the benefits to customers, a committee has been formed to examine the gamut of charges taken against the withdrawal of money from Automated Teller Machines. In its June bi-monthly monetary policy meeting, RBI had said …

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