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Sunday, August 17, 2014

New ATM transaction rules in india stated by RBI starting from september 2014


New rules have been implemented regarding ATM transaction for major cities in India. RBI says that it will be implemented from September 2014. A fee will be charged when some one perform more than 3 transactions per month from other Bank's ATM. This rule has been implement for major cities like Chennai, Mumbai, Kolkata, Delhi, Bangaluru and Hyderabad. Small cities will maintain previous rules implemented by RBI.


RBI stated that minimum transaction should be 3 if some bank want they they can provide more than 3 free transactions.
People who are using their own bank ATM will get 5 free transaction per month after than a fee will be charged by bank and this rule is applied for all Banks in India. RBI also stated that after free transaction limit the fee which will be charged must no exceed rs 20.  


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