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Free Inter-Bank ATM Withdrawals |
Customers will now be able to withdraw money from any automated teller machine (ATM) free of charge from April 1, 2009.
Reserve Bank of India (RBI) today issued the final guidelines for usage of ATMs, and charges to be collected by banks for accessing ATMs.
RBI, in its discussion paper on the issue released in December, had said banks will have to reduce the charge for use of other bank ATMs for cash withdrawals to Rs 20 per transaction by March 31, 2008.
"It is evident that the charges levied on the customers vary from bank to bank and also vary according to the ATM network that is used for the transaction. Consequently, a customer is not aware, before hand, of the charges that will be levied for a particular ATM transaction, while using an ATM of another bank. This generally discourages the customer from using the ATMs of other banks. It is, therefore, essential to ensure greater transparency.
"International experience indicates that in countries such as UK, Germany and France, bank customers have access to all ATMs in the country, free of charge except when cash is withdrawn from white label ATMs or from ATMs managed by non-bank entities. There is also a move, internationally, to regulate the fee structure by the regulator from the public policy angle. The ideal situation is that a customer should be able to access any ATM installed in the country free of charge through an equitable co-operative initiative by banks," the central bank said. |
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WAMU offering excellent accounts |
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Free Checking account, no direct deposit requirements, free checks for life, no minimum balance! Sounds too good to be true, but this time its real.
Washington Mutual in an effort to attract new customers has brought in their best possible product so far. Free Checking Accounts.
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Fresh warrant issued against Monica |
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BHOPAL: The Bhopal judicial magistrate court on Saturday issued a warrant against Monica Bedi, directing that she be produced in court on December 5 in connection with the fake passport case, in which she is co-accused along with her companion Abu Salem and his first wife Sameera.
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India retain team for SA series |
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Sourav Ganguly continued to be excluded from the Indian team after the national selectors retained the winning combination that beat Sri Lanka 6-1 in the just-concluded, for the first three matches against South Africa.
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Delhi blasts: Police claim major breakthrough |
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Delhi police are claiming to have solved the case of triple blasts that rocked the capital on 29 October.
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H4 Visa Holders - Agony and Pain of Boredom |
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All H4 Visa holders in USA share one common thing, boredom! End of career, killing boredom are the price been paid by highly educated Indian H4 holders to be with their families in USA.
Are there any work arounds to kill boredom, read on..
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E-mail leak: Dungarpur accuses Dalmiya |
The Greg Chappell-Sourav Ganguly conflict has become an excuse for more sniping between the two warring factions of the cricket board.
Former BCCI President Raj Singh Dungarpur hinted at a press conference in Mumbai today that Chappell's e-mail was leaked to the press at the behest of his rival Jagmohan Dalmiya's camp.
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Full Text Greg Chappell Email to BCCI |
Full text of India cricket team coach Greg Chappell's e-mail to Board of Control for Cricket in India president Ranbir Singh Mahendra, courtesy DNA, India TV
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