Usage of Automated Teller Machines / Cash Recycler Machines - Review of Interchange Fee and Customer Charges - ஆர்பிஐ - Reserve Bank of India
Usage of Automated Teller Machines / Cash Recycler Machines - Review of Interchange Fee and Customer Charges
RBI/2021-22/52 June 10, 2021 The Chairman and Managing Director / Chief Executive Officer Madam / Dear Sir, Usage of Automated Teller Machines / Cash Recycler Machines The Reserve Bank of India had constituted a Committee in June 2019 under the Chairmanship of the Chief Executive, Indian Banks’ Association to review the entire gamut of Automated Teller Machine (ATM) charges and fees with particular focus on interchange structure for ATM transactions. 2. The recommendations of the Committee have been comprehensively examined. It is also observed that the last change in interchange fee structure for ATM transactions was in August 2012, while the charges payable by customers were last revised in August 2014. A substantial time has thus elapsed since these fees were last changed. Accordingly, given the increasing cost of ATM deployment and expenses towards ATM maintenance incurred by banks / white label ATM operators, as also considering the need to balance expectations of stakeholder entities and customer convenience, it has been decided as under :
3. This directive is issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007). Yours faithfully, (P Vasudevan) |