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Thursday May 15, 3:43 PM
India's Central Bank Fixes Atm Charges for Coop Banks$all $in $bnk $reg NEW DELHI, May 15 Asia Pulse - The Reserve Bank of India on Thursday asked the country's cooperative banks not to charge more than Rs 20 (US$0.47cents) for withdrawal of cash by ATM card holders of any banks from their vending machines.
The cooperative banks have been prohibited from charging any fees for a balance enquiry or using any other facility apart from cash withdrawal with immediate effect. The RBI has already removed all charges from using the ATMs of commercial banks, and the charges on cash withdrawal will be done away with from April 1, 2009. It implies that an ATM card holder would be able to withdraw cash from ATM maintained by any bank, including cooperative banks, without payment of any fee from April 1, next year. The notification said however, that the service charges for withdrawal of cash from ATMs through credit cards and ATMs located abroad, will be decided by the banks themselves. (PTI)
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