Through the RTI, it has been revealed that according to a suggestion made by a Reserve Bank committee to reduce cash withdrawal, there will be a charge on ATM Withdrawal charges from the ATM. However, this report was never made public.
It’s possible that now you have to pay some charges for withdrawing more than Rs 5000 from ATM ( ATM Withdrawal ). The Reserve Bank (RBI) is considering this. According to information from the RTI, digital transactions ( Digital Transactions ) is considering charging RBI charge to reduce the habit of promoting and cash withdrawals.
The committee headed by VG Kannan had suggested, that according to the information received from the RTI, the committee headed by VG Kannan, chief executive of the Indian Banks Association, to reduce the cash withdrawal habit that submitted its report, It was mentioned in it. He submitted this report to the Reserve Bank on 22 October 2019, although it was never made public.
According to the report, RBI earlier rejected the petition, the petition of RTI activist Shrikant L was earlier rejected by the Public Information Officer (PIO) of RBI. He later appealed against the Reserve Bank’s response, after which he got access to the report. Srikanth has put this copy in the public domain.
ATM operational costs increased, according to the report, the operational costs of the ATM has increased significantly. Apart from this, the interchange fees and ATM usage charge cap have not been reviewed since 2012 and 2008. This report also states that there is a very low number of ATMs in semi-urban and rural areas. There is also a need to install a large number of new ATM machines.