A consumer court in New Delhi has directed the Bank of India to refund Rs 10,000 to a woman and provide additional compensation for a failed ATM transaction that was not reversed for several months, citing deficiency in service and violation of RBI guidelines.
The Reserve Bank on Thursday permitted banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. Bank customers will have to pay Rs 21 per transaction, instead of Rs 20, with effect from January 1, 2022, if they exceed the monthly limit of free transactions. "To compensate the banks for the higher interchange fee and given the general escalation in costs, they are allowed to increase the customer charges to Rs 21 per transaction. "This increase shall be effective from January 1, 2022," the RBI said in a circular.
A consumer commission in Nagpur, Maharashtra, has penalised Axis Bank for deficiency in service, ordering a refund and compensation to a customer over a failed ATM transaction from 2018.
The National Payments Corporation of India (NPCI) is set to consider linking the ATM interchange fee to the Wholesale Price Index (WPI), alongside a potential hike from the current 19 to 21-22, which could impact customer charges for transactions beyond the free limit.
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday. As per the Reserve Bank directive issued in June, the banking customers would be required to pay Rs 21 per transaction with effect from January 1, 2022 for transactions beyond the free permissible limit. Presently, banks are allowed to charge Rs 20 for such transactions through ATMs.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, reaching 570 crore volumes and Rs 23.2 lakh crore in value, with private sector banks significantly increasing their market share, according to a recent RBI report.
Interchange fee is the amount charged by ATM operators for every transaction.
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 Reserve Bank will consider reducing the number of free ATM withdrawals, as recommended by Indian Banks' Association, in an effort to cut down on cash transactions in the economy.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
Second authentication for small value payments through credit cards can be reduced subject to conditions.
The RBI also allowed banks to levy ATM charges beyond 5 transactions for the same bank's account holders.
Even as State Bank of India, the country's largest lender, has decided to charge its customers for more than five transactions through automated teller machines (ATMs), private sectors banks continue to be on a wait-and-watch mode.
At present, there is no cap on free transactions at own-bank ATMs, while customers can use other banks' machines up to five times a month without any extra cost.
Gurugram Police have arrested four individuals allegedly involved in an online betting fraud operation. The accused lured users with online gaming advertisements, processed payments through QR codes, and earned commissions on deposits.
Gujarat police have uncovered cyber frauds worth Rs 2,289 crore and arrested 638 individuals as part of 'Operation Mule Account 1.0', a state-wide crackdown on online criminals launched in 2025.
The Reserve Bank of India on Friday directed banks to reimburse customers for amounts wrongfully debited from their accounts in failed ATM transactions within seven days of an account holder's complaint or else pay a Rs 100 per day compensation.
Sonbhadra police have arrested five individuals from Rajasthan for operating an inter-state cyber crime racket involving blackmail, extortion, and impersonation, which allegedly led to a man's suicide.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, driven by private sector banks, while debit card usage declines due to growing adoption of UPI and digital wallets, according to an RBI report.
Delhi Police have arrested a man from Rajasthan for allegedly running an online shopping fraud racket, cheating people through fake social media advertisements offering discounted branded suits and sarees.
Gurugram police have dismantled a cyber fraud operation run from a call centre in Ghaziabad, arresting three individuals accused of defrauding people of significant sums through deceptive insurance and government bond investment schemes.
Gurugram Police have arrested six individuals allegedly involved in a cybercrime racket that defrauded people through online gaming and betting platforms. The arrests followed a raid in Delhi's Janakpuri area, where authorities seized mobile phones, laptops, ATM cards, and other incriminating materials.
Delhi Police have arrested two men from Goa, claiming to have busted an interstate cyber-fraud-and-cash-conversion racket. Transactions worth nearly Rs 40 lakh routed through the network have been uncovered.
Delhi Police dismantled multiple interstate cyber fraud syndicates in a month-long operation, arresting 35 and bringing 89 offenders to justice. The syndicates were involved in various scams, including digital arrest, investment fraud, and fake dating schemes, with transactions worth nearly Rs 40 crore.
The Reserve Bank of India on Friday permitted banks to increase charges on ATM cash withdrawals beyond the mandatory free monthly usage by Rs 2 to Rs 23 per transaction from May 1.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
Delhi Police have arrested two individuals from Jharkhand for allegedly defrauding a 65-year-old man of over Rs 10 lakh through a cyber fraud involving APK files.
Jharkhand police have uncovered an interstate cyber fraud network and arrested four individuals involved in fraudulent transactions across 24 states. The investigation was initiated following inputs from the Union Home Ministry's 'Samanvaya portal', leading to the discovery of a bank account in Ramgarh district used for the illicit activities.
A senior citizen in Navi Mumbai was allegedly swindled of 64 lakh over four years by cyber fraudsters posing as insurance regulators and grievance officials.
Kanpur Police have dismantled a sophisticated cyber fraud syndicate, arresting eight individuals, including five bank officials, for facilitating mule accounts and hawala transactions worth Rs 125 crore.
Delhi Police have arrested two individuals involved in an investment scam where a local resident was cheated of Rs 1.60 lakh. The investigation has linked the accused to a broader cyber fraud network with transactions worth approximately Rs 68 lakh across multiple states.
The Uttarakhand Special Task Force (STF) has arrested two members of an inter-state organised gang from Jammu and Kashmir for their alleged involvement in cyber fraud.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
A 28-year-old man from Ghaziabad has been arrested for allegedly defrauding a Delhi woman of over Rs 1.51 lakh under the guise of a job application scam.
The Employees' Provident Fund Organisation (EPFO) will soon allow subscribers to withdraw their EPF and transfer it directly to their bank accounts through the UPI payment gateway. Testing of the facility has been completed, according to Labour Minister Mansukh Mandaviya.
After private banks - HDFC Bank and Axis bank - decided to charge own customers for more than five transactions at their ATMs, public sector lender Union Bank of India has also joined the bandwagon.
The only thing that's clear is the October 15 deadline for the end of free third-party ATM use.
Police in Lucknow have arrested four people for allegedly using ChatGPT and graphic design software to create and sell fake IPL tickets outside the Ekana Stadium.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
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