RBI has imposed a withdrawal limit of Rs. 10,000 per transaction at the third-party ATM as well as limited such transactions to 5 per month.
Punjab Chief Minister Bhagwant Mann has dismissed speculation about dissent within the Aam Aadmi Party's state unit, asserting that Congress leaders have a history of switching parties while AAP leaders remain dedicated. Mann's remarks came after Punjab Congress leader Partap Singh Bajwa claimed that over 30 AAP MLAs were in touch with his party. Mann, however, dismissed Bajwa's claims, stating that Congress has a culture of switching sides. The meeting follows AAP's defeat in the Delhi Assembly elections, sparking speculation about instability in its Punjab unit. Mann reiterated the unity within AAP, highlighting his government's achievements, including closing 17 toll plazas, stopping multiple pensions for MLAs, and implementing the Delhi model in Punjab. On the promise of financial assistance of Rs 1,000 to women, he said it will be provided in the coming days. Meanwhile, the BJP has also intensified its attack on the AAP, with BJP leader Manjinder Singh Sirsa taking a dig at Kejriwal for holding a meeting with Punjab MLAs despite AAP's defeat in Delhi.
About 200,000 ATMs can dispense the new series of Rs 500 notes
Close to 29 per cent of all complaints received from customers is related to ATM, debit card and credit card payments
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
Shivkumar Gautam, the alleged main shooter in the Baba Siddique murder case, remained at the spot for 20 minutes after the Nationalist Congress Party leader was gunned down on October 12, an official said on Thursday.
With debit cards of 5 banks compromised, time to be very cautious while transacting. If possible, avoid non-bank ATMs.
It is suspected that the electronic device at the ATM counter enabled the fraudsters to collect the secret pin code and card details.
The 35-year-old Gabrial, one among four Romanians accused in the robbery in which a large number of persons lost their money from their accounts, was taken into custody on transit remand from a court in Mumbai.
Here's how Ganesh Pillai got his card back from the ATM machine.
In a pioneering move, Amul has launched India's first milk ATM.
Rediff reader Shan Anbu, 42, tells us how his card got stuck in the ATM due to lack of backup power facility.
'Oh, this is printed material which is sent to everyone along with the ATM card,' the bank manager told me. 'It won't work because the system has changed.' A Ganesh Nadar encounters the Indian banking system.
The average, fixed cost of setting up an ATM is estimated at Rs 600,000-800,000. There are about 30,000 ATMs in India. The RBI norms will enable small banks to benefit from low-cost, switch-enabled ATM services without opting for expensive bilateral tie-ups.
Laxman Maake, 47, tells us why he is disappointed with the ATM that he often goes to.
The RBI also allowed banks to levy ATM charges beyond 5 transactions for the same bank's account holders.
Isha was the custodian of the cash at the time it was being placed in the ATM.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
So what if your bank has imposed/will impose a transaction fee of Rs 20 for using ATMs after your fifth visit in a month? You can still remain within your free transaction limits and avoid being charged at all. Wondering how it is to be done? Read on.
Did the transaction fail? Did you receive your money on time?
Take a break and rest your tired heels in a dysfunctional ATM.
They had also sought to be allowed to charge consumers for use of own-bank ATMs.
Sources at the bank told Business Standard that talks were on with 2-3 vendors and the final decision is expected in the next 2-3 weeks.
A representative of the Confederation of ATM Industry said ATM players were not consulted about the move and they received the news via media platforms.
India is an under-penetrated ATM market with only 98 ATMs for every 10 lakh of population.
The new fee structure would come into effect from July 1.
Readers share their bitter-sweet experiences at the ATM.
We may turn our noses up at those who do it but that doesn't mean we haven't done one (or all) of these things at an ATM.
Many sections of the society including small traders, restaurant owners, transporters started feeling the heat as the dependence on cash is very high
The central bank said it had issued instructions to banks to ensure that under no circumstances forged banknotes got dispensed through ATMs or across exchange counters.
Next time you go to a bank ATM, be ready to re-enter your PIN afresh for every transaction you wish to conduct, such as money withdrawal, balance enquiry and checking account details.
Even as RBI allowed banks to charge ATM transactions beyond five in metros, the lenders are yet to restrict the number of free withdrawals for their own customers at home ATMs.
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
Valentin Boanta, sitting in his jail cell, proudly explains the device he has invented could make the world's ATMs impregnable even to tech-savvy criminals.
Chennai-based financial services technology company, Polaris Software Lab, has come out with a new technology that would allow insurers to sell their products and collect renewal premium through ATMs. The company is in talks with two insurers for implementing its solution.
White labeled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
