ATM charge of 21 per transaction is a bad move
ATM transactions will get costlier from January 1, 2022 per the Reserve Bank of India new rule. Customers will have to pay Rs 21 plus taxes to withdraw cash.
This is ridiculous. More
People will now earn in cash and keep in cash and pay in cash.
It is being done to get sabji walas and kabadi walas to accept digital payment to increase those transactions but could have a reverse effect.
What does everyone think about this. I think only the middle class tax payers use atms. more
I am not sure that it is correct information. ATM withdrawals lessen the work load of banks except when the withdrawal is from other than your bank. This will involve reconcilation between banks but at times, it may not be possible to withdraw from your own bank ATM. In order to cater to such eventualities, a limited no. of withdrawals are permitted. RBI may only be laying down uniform charge for all banks after availing permissible withdrawals. more
What does ATM charge mean? ATM charge is applicable only for withdrawing cash through any ATM of any bank, that too, after a specified number of occasion of using an ATM for the purpose during a month. Cash withdrawal means payment by cash, therefore, how it is going to affect digital payments? On the contrary, the aim to recover ATM charges is to discourage cash payment and encourage digital payments. Therefore, the contents of the post are apparently misguiding. more
Middle class always target for new taxes. Those who are unable to do digital transactions will be worst suffers. more
It is a good move provided all ATMs works properly with sufficient amount. In case any ATM is short of money or not working, the bank concerned should be fined heavily by RBI. Govt. orders on the subject were published in TOI which have been included by Mr Summit Khanna in his post. more
First Govt encourages people to adopt one culture. When people start using this then over a period of time they will start charging money on one pretext or the other. This is highly undesirable. more