India's Central Bank fixes ATM charges for co-op banks

India's Central Bank fixes ATM charges for co-op banks
Tags: Asia, Australia & Pacific, Bank / Credit Union, Bank Automation, Debit / Credit, North America, Regulatory Issues, Retail / Off-Premises, Transaction Processing
May 14, 2008

Asia Pulse: The Reserve Bank of India on Thursday asked India's cooperative banks not to charge more than R 20 (U.S. 47 cents) for withdrawal of cash by ATM cardholders. Like other banks, the cooperative banks will also be required to abolish withdrawal charges at ATMs beginning April 1, 2009.