The Reserve Bank of India has today decided that banks shall waive levy of ATM charges for all transactions (inclusive of both financial and non-financial transactions) by savings bank customers done at their own banks’ ATMs as well as at other banks’ ATMs, irrespective of the number of transactions during the month. The above waiver of charges on ATM usage will be effective from November 10, 2016 till December 30, 2016, subject to review.
Reserve Bank of India
RBI/2016-17/132
DPSS.CO.PD.No.1240/02.10.004/2016-2017
November 14, 2016
The Chairman and Managing Director / Chief Executive Officers
All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /
State Co-operative Banks / District Central Co-operative Banks
White Label ATM Operators
Dear Madam/ Sir,
Usage of ATMs – Waiver of customer charges
A reference is invited to the circular DPSS.CO.PD.No.316/02.10.002/2014-2015 dated August 14, 2014 on rationalisation of number of mandatory free ATM transactions for savings bank account customers for transactions done at their own bank ATMs as well as at ATMs of other banks. A reference is also drawn to Circular No.DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 on the withdrawal of legal tender characteristics of existing Rs.500/- and Rs.1000/- Bank Notes (Specified Bank Notes – SBN) and Circular RBI/2016-17/111 DPSS.CO.PD.No./02.10.002/2016-2017 dated November 8, 2016 on, inter alia, closure of ATMs and waiver of charges on withdrawals from ATMs till December 30, 2016.
2. In this regard, it has been decided that banks shall waive levy of ATM charges for all transactions (inclusive of both financial and non-financial transactions) by savings bank customers done at their own banks’ ATMs as well as at other banks’ ATMs, irrespective of the number of transactions during the month.
3. This waiver is applicable on transactions done at ATMs from November 10, 2016 till December 30, 2016, subject to review.
4. The directive is issued under Section 10(2) read with Section 18 of Payment and Settlement Systems Act 2007, (Act 51 of 2007).
Yours faithfully
(Nanda S Dave)
Chief General Manager
