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ATM operators seek higher fees on withdrawals

Besides, free withdrawal may be capped at 3 for urban areas in place of the current 5 free transactions.

For urban areas where the population is more than 1 million, the ATM committee has recommended an interchange fee of Rs 17 on financial and Rs 7 on non-financial transactions.

Mumbai: India’s ATM operators’ association has written to the Reserve Bank of India (RBI) seeking a hike in the interchange fee paid by customers on cash withdrawals, saying their businesses will “bleed.” This could significantly impact the rollout of new ATMs in a country already battling low teller machine penetration ...

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