Bookmark Bookmark

RBI sets up a six-member committee to review ATM interchange fee

RBI sets up a six-member committee to review ATM interchange fee

The Reserve Bank has constituted a high-level committee under IBA Chief Executive V G Kannan to examine ATM charges and fees by banks amid demands for reviewing the levies.

The six-member panel will review the existing structures and patterns of costs, charges and interchange fees for ATM transactions. The committee will also review the overall patterns of usage of ATMs by cardholders and assess the impact, if any, on charges and interchange fees.

The use of automated teller machines (ATMs) has been growing significantly and there have been persistent demands to change ATM charges and fees.

You might be interested:

World Child Labor Day: June 12

World Child Labor Day: June 12 Every year on June 12 the World Day Against Child Labor is observed to raise awareness of the plight of child laborers world-wide ...

8 months ago

P. K. Mishra: Additional principal secretary to Prime Minister

P. K. Mishra: Additional principal secretary to Prime Minister Retired IAS officer P. K. Mishra was appointed as additional principal secretary to the new Prime Minister. Mishra was from the 1972 batc ...

8 months ago

Vocab Express- 741

Vocab Express- 741 Dear Aspirants, To enhance your vocabulary here are 5 new words. Use these words to improve Written and Spoken English skills. In case you have missed out on our previous Voca ...

8 months ago

Daily News Digest:11 June 2019

Actor-playwright Girish Karnad passes awayPopular veteran actor, writer and playwright Girish Karnad passed away at 81 in Bengaluru on June 10, 2019.RBI asks banks to allow at least 4 withdrawalsAccor ...

8 months ago

Banking Digest, 12 June 2019

Economy A minimum number of withdrawals in a month that will offer by commercial banks to holders of basic savings bank deposit (BSBD) accounts, as per new directive by the RBI - Four. To blow t ...

8 months ago

One Liners of the Day, 12 June 2019

International This former President of Pakistan arrested under corruption charges - Asif Ali Zardari. This Gulf country adopted the "National Strategy for Wellbeing 2031" policy - United Arab Emirate ...

8 months ago

Provide your feedback on this article: