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Tuesday, March 11, 2008

RBI MAKES ALMOST ALL ATM SERVICES FREE

MUMBAI: The Reserve Bank of India (RBI) has removed all charges on use of ATMs, except for withdrawing money for which a maximum fee of Rs 20 has been prescribed. Even this fee will eventually be abolished from April 1, 2009, allowing an ATM card holder to withdraw cash from any bank’s ATM in the country free of cost from that date. Banks, however, will have the freedom to fix charges for withdrawals through credit cards and from ATMs located abroad.

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