March 25, 2025 1:34 PM

ATM withdrawals to get costlier from May 1 as RBI approves fee hike

Withdrawing cash from ATMs in India will become costlier from May 1, as the Reserve Bank of India (RBI) has raised interchange fees. This means customers who rely on ATMs for financial transactions will have to pay additional charges once they exceed their free transaction limit. An ATM interchange fee is a charge that one bank pays another for providing ATM services. This fee, usually a fixed amount per transaction, is often passed on to customers as part of their banking costs. The RBI deci...