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ATM transactions will be cost effective from January; Banks allowed to raise rates

New Delhi: Monetary and non-financial ATM transactions might be price efficient from January. The Reserve Financial institution of India (RBI) has allowed banks to extend charges without cost ATM transactions from subsequent month.

From January onwards, prospects should pay Rs 21 and GST on free transactions. At current it’s Rs.20 plus GST.

Free transactions may be made as much as 5 instances from the financial institution the place the account is held, 3 times from different banks’ ATMs in cities and 5 instances in rural areas.

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