According to the new rules, you cannot withdraw cash for 5 times in a month, for this you will have to pay a charge.
If you withdraw more than Rs 5000 cash from ATM, then now know that you will have to pay extra charge on withdrawing this much money. Preparations are being made to change the rules for withdrawing cash from ATMs after 8 years. With these new rules, you may have to pay a charge for withdrawing cash 5 times a month. That is, if you withdraw cash more than Rs 5,000, then you have to pay additional charge.
Also Read: SBI ATM Rules: Cash withdrawal rules from SBI ATM to be changed from today, know the whole process
If you withdraw more than Rs 5,000, then you will be charged 24 rupees
According to media reports, customers will have to pay an additional charge of Rs 24 for withdrawing more than Rs 5000 cash from ATM. At present, you can withdraw cash from ATM 5 times a month without any charge. After this, if you withdraw cash more than 5 times in a month, then for the sixth time, 20 rupees are charged.
Recommendation of RBI Committee
Actually, the rules for withdrawing cash from ATMs are being changed based on the recommendations made by a committee of Reserve Bank of India (RBI). However, the committee’s report has not yet been made public. This information is given in the information sought under the Right to Information Act – RTI.
The report was submitted to RBI only in October last year
The committee constituted to review RBI ATM charges has submitted its recommendations. Based on this, banks can change the ATM fee (Fee) after 8 years. According to the information given in the RTI, the Reserve Bank committee had suggested reducing the cash withdrawal. The report was submitted on 22 October 2019, although it was never made public. The RTI activist later sought information from the RBI in this regard.
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