1 week, 1 day ago

ATM charges hiked by ₹2 to ₹23 per withdrawal beyond free monthly usage from May 1

ATM charges from May 1: The Reserve Bank of India on Friday, March 28, permitted banks to increase charges on ATM cash withdrawals beyond the free monthly usage by ₹2 to ₹23 per transaction from May 1, 2025. "Beyond the free transactions, a customer may be charged a maximum fee of ₹23 per transaction. The RBI has issued various instructions on the number of free ATM transactions and the maximum charges that can be levied on a customer beyond the mandatory free transactions from time to time. Commenting on the proposed charges, Shikhar Aggarwal, Chairman of BLS E-Services, told news agency PTI that the RBI's decision to increase ATM interchange fees underscores the growing cost of cash transactions in India.

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