The Reserve Bank of India has released a notification mentioning the information that the charges which the public have to pay while withdrawing their cash from the ATM once the limit set by the RBI exceeds is going to increase from next month. The banks have already increased the charges on cash and non cash automated teller machines as they have got permission from the Reserve Bank of India.
The citizens of the country will be a little bit affected by this decision as now they have to pay more for the purpose of withdrawing money beyond the limits set by the Reserve Bank of India. Now people might stop withdrawing money beyond the limit, as a result, people will start using ATMs only in necessity.
As per the central bank, the new rule will come into action from January 2022, and when these new rules will be imposed on the ATM people will have to pay an amount of Rs 21 per transaction from their own bank for withdrawing money once the limit exceeds.
For transactions at HDFC banks and ATMS only withdrawal of cash will be considered for charging and the non-financial transactions will be free.
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