RBI directs banks to waive ATM charges till Dec 30

Reserve Bank of India has directed banks to waive off ATM charges on all transactions at own banks as well as others till December 30.In a late night notification, RBI said this facility will be applicable at both financial and non-financial transactions and is not limited by number of times a customer makes transactions. 

The RBI notification further said that the waiver is applicable on transactions done at ATMs with effect from November 10 till



December 30, 2016, subject to review. 

In case of charges levied for transactions done at other bank ATMs during this window, the fee will be reversed. There are about 2 lakh ATMs of different banks across the country. 

This move comes in the backdrop of desperate public queuing up at ATMs, irrespective f the bank of the account holder, to draw cash after the Government announced scrapping of Rs. 500 and Rs. 1,000 currency notes.