Reserve Bank of India says inter-bank ATM usage should be free

Reserve Bank of India says inter-bank ATM usage should be free
Tags: Bank / Credit Union, Debit / Credit, Middle East & Africa, North America, Regulatory Issues, Transaction Processing, Trends / Statistics
February 18, 2008

Rediff India Abroad: The Reserve Bank of India has issued a ruling that Indian banks cannot charge fees for non-customers who use their ATMs. The ruling, which goes into effect April 1, 2009, rejects banks' pleas to cap the number of free cash withdrawals every month by saying that such a cap is not desirable, nor practical.