Directions: RBI Gives Banks Important Points On 5 Free Trades From ATMs
Directions: RBI gives banks important points on 5 free trades from ATMs
Ashwin Manikandan, Mumbai Reserve Bank has told banks that non-cash transactions such as Fail Transaction or Balance Inquiry or Checkbook Request at ATMs will not be counted in the five free transactions received every month. RBI said in a circular disclosing to all commercial banks, co-operatives and rural banks, “We have come to know that the transactions that are not being done in ATM or due to technical reasons are also considered free ATM transactions.” This transaction should be considered a Fail Transaction and should not be charged.
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