Get ready to be charged more for taking out cash from an ATM.The Reserve Bank of India on Thursday allowed banks to raise charges on automated teller machines to Rs 21 per transaction
This however is not applicable immediately, this will come into effect from January 1, 2022, post which you will be charged the amount after you exhaust your free transaction limit which is set at 3 in metro cities and 5 in non-metros.
RBI has also hiked the interchange fee per transaction from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions in all centres, effective August 1, 2021.