atm transaction

Next time you go to a bank ATM, be ready to re-enter your PIN afresh for every transaction you wish to conduct, such as money withdrawal, balance enquiry and checking account details. In order to check misuse of ATM cards by unauthorised people, RBI Full Article

ATM transactions may have become free for customers, but banks now have to pay Re 1 for every ATM transaction that is routed through the National Financial Switch — the backbone of ATM networks in the country. The charge has been introduced after RBI transferred ownership of NFS from its technology arm IDRBT to the newly-formed National Payments Corporation. Full Article

The Reserve Bank on Tuesday allowed banks to open ATMs outside their branches without permission from the central bank. “It is proposed to allow scheduled commercial banks (SCBs) to set up offsite ATMs without prior approval,” the RBI said in its annual monetary policy. The RBI further said a group would be constituted to review [...] Full Article

RBI/2007-2008/ 260 DPSS No.1405 / 02.10.02 / 2007-2008 March 10, 2008 The Chairman / Chief Executive Officer (All Scheduled commercial banks including RRBs) Dear Sir Customer charges for use of ATMs for cash withdrawal and balance enquiry 1. Automated Teller Machines (ATMs) have gained prominence as a delivery channel for banking transactions in India. Banks [...] Full Article