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  

View all 16 comments Below 16 comments
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  
Post a Comment

Related Posts

    • CNG rates

      The cost of one Kg CNG in Delhi in June 2010 was Rs 21.90. Today (May 15, 2022) one Kg CNG costs Rs 73.61 in the national capital. 240% increase in 12 years inflation of 12 years was ...

      By Radha Kadam
    • Spicejet should be shut

      new rule of SpiceJet. If you wish to get a boarding card at the check in counter,you need to pay extra. This is like telling a customer In a restaurant that if you want eat in a plate, you will be ...

      By Naina Mittal
    • Common consumer under distress

      The atta for your chapattis, the oil for your cooking, the salt for seasoning, the milk for your chai—a number of items of daily use saw prices rise further in April, with some costing the mo...

      By Ajay Dutta
    • No targeting of children under 16 through ads

      Everyone do vote on this survey if you havent already. I do however think that this should be for all products and not just food products. So many health supplements, education classes etc is being...

      By Garima Sharma
    • Is ola electric scooters a time bomb

      Ola electric scooters is a big NO, like a real big no. They are burning up reversing while accelerating and many disasters have taken place already, like 1500+ Of them have had issues and probably ...

      By SN Mittal
    • Congratulations Amod ji

      As Akshay Kumar has acknowledged the public displeasure on vimal and and will be donating proceeds tl good cause and not take up such ads. Congratulations to people like you who dont hes...

      By Meeta Sinha
    • अभिनेता कर रहे देश बर्बाद

      अक्षय कुमार ने भी दिल पर पत्थर रखकर फैसला किया है, वो भी लोगों को अपने मुंह में विमल पाउच खाली करने के लिए प्रेरित करेंगे ताकि भारतीयों के शरीर में हो रही केसर की कमी के प्रति उन्हें जागरूक किया जा...

      By Amod Agarwal
    • Reliance brands are sad at packing

      Look attached package received from AJIO a reliance company. Box all broken now how do we gift it to a 18 year old sons friend. Same thing with jio mart orders. Just terrible quality pr...

      By Amod Agarwal
    • Do not put money in Pay TM wallet

      Unless you want your money stuck. My mother has money in her wallet that she can’t use. It wont let her use money without doing KYC and it wont do KYC because RBI has put a ban. It...

      By Amit Mishra
    • Action against BJP nutrition bar

      Please see attached someone misusing Modiji and BJP name to sell a nutrition bar. LocalCircles may pls get sarkar to take action against these crooks under emblems act.

      By Dinesh Shah
    • RO needs to be replaced

      A drawback of using RO water purifiers is excessive wastage of water. An average RO purifier wastes approximately 3 litres of water for every 1 litre of purified water.With every house having an RO...

      By Kapil Rao
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)