♪ღ♪*•• A.A.J ••*•♪ღ♪ Why charge customers for using ATM: HC asks RBI The Delhi High Court Wednesday issued notice to the Reserve Bank of India (RBI) on a plea against RBIs decision to impose a limit of five transactions per month from the customers own bank ATM and charging Rs.20 per transaction beyond it. A division bench of Chief Justice G. Rohini and Justice P.S. Teji also issued notice to Indian Banks Association and State Bank of India along with the RBI and sought their response by Feb 18 on the PIL seeking directions to allow banking customers to make unlimited number of transactions free of any charge on own bank ATMs. During the hearing, the court even raised the question about banks charging Rs.20 from its own customers after five transactions. You (banks) are unnecessary taxing your account holders, the bench remarked. The PIL filed by a practising advocate Swati Aggarwal, through advocate Vivek Kumar Tandon, sought quashing of the Aug 14 RBI direction that limited the number of monthly free transactions at own banks kiosk to five beyond which banks can charge Rs.20 per transaction. The directive became effective Nov 1 and has already been implemented by several banks, including the State Bank of India, the largest bank in India, said the plea. RBI also imposed a limit of three transactions per month from ATMs of other banks, located in the six metro centres -- Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad.
Posted on: Wed, 24 Dec 2014 10:45:37 +0000
Trending Topics
Recently Viewed Topics
© 2015