I have not been able to find out any RBI notification or circular or press release in this regard, but it seems RBI has restricted free third party ATM transactions to only two per month down from five per month. The five free 3rd party ATM transactions were reasonable considering that one can never find your home bank ATMs near your residence. Anyway withdrawing money from your bank account need not cost anything, but considering the costs incurred by banks, five free 3rd party ATMs was completely reasonable and RBI should not have tinkered with that limit. It shows that RBI barely cares for customers and customer service and I don't understand how they are going to meet their mantra of financial inclusion if they go on imposing unreasonable costs on the customers. And then there is a limit of maximum withdrawal of Rs.10,000/- at any one time, which means that if you withdraw more than Rs.20,000/- in a month, you are liable to pay charges on such withdrawals. What nonsense. As it is banks impose huge costs on the customer by way of cheque book charges, maintenance charges, debit card fees and what not for which they don't even write proper entries in the pass book.
http://www.deccanchronicle.com/140802/business-latest/article/third-party-atm-transactions-limit-go-down-five-two
http://www.deccanchronicle.com/140802/business-latest/article/third-party-atm-transactions-limit-go-down-five-two
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