July 20, 2025 07:13 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Odisha shocker: Minor girl set on fire by three men in Puri, Naveen Patnaik slams BJP govt | Patna hospital shooting: Over five accused arrested from West Bengal | Five jets were shot down: Donald Trump's new claim on Operation Sindoor | TMC backing infiltration, endangering Bengal's identity: PM Modi slams Mamata govt | Bihar must be protected from malicious intentions of RJD and Congress: PM Modi | 'You deserve to suffer just like me': Over 60 Delhi and Bengaluru schools receive 'hoax' bomb threats | 'We would caution against any double standards': India on NATO's warning over Russia trade sanctions | Karnataka govt blames RCB for Bengaluru stampede, refers to Kohli's online message too | 'Premature and irresponsible': Indian pilots' body slams Air India crash probe report | Bihar CM Nitish Kumar announces free electricity upto 125 units ahead of assembly polls

RBI issues circular on free ATM transaction norms

| @indiablooms | Aug 16, 2019, at 03:36 pm

New Delhi, Aug 16 (IBNS): The Reserve Bank of India on Friday issued a circular where it directed all commercial banks, cooperative and rural banks not to treat failed transactions at ATMs or non-cash transactions such as balance enquiries or checkbook requests as part of five free transactions available to customers in a month.

" It has come to our notice that transactions that have failed due to technical reasons, non-availability of currency in ATMs, etc., are also included in the number of free ATM transactions," the RBI said in a statement.

" It is hereby clarified that transactions which fail on account of technical reasons like hardware, software, communication issues; non-availability of currency notes in the ATM; and other declines ascribable directly / wholly to the bank / service provider; invalid PIN / validations; etc., shall not be counted as valid ATM transactions for the customer. Consequently, no charges therefor shall be levied," it said.

The bank said: "Non-cash withdrawal transactions (such as balance enquiry, cheque book request, payment of taxes, funds transfer, etc.), which constitute ‘on-us’ transactions (i.e., when a card is used at an ATM of the bank which has issued the card) shall also not be part of the number of free ATM transactions."

Banks offer five transactions to users every month in case the ATM is in its network.

In case the transactions are done with other banks then less number of free attempts are given by banks to the customers.

Charges are levied on customers for transactions over the free limits.

 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu