High Court Notice to RBI on restrictions of ATM usage!
Posted on: 19/Nov/2014 2:35:28 PM
Chennai High Court has ordered to send a notice to the Reserve Bank of India on its recent restrictions imposed on usage of ATMs.
The petition given by Mr. Tamilarasan from Chokkikulam (Madurai) at Madurai branch of Chennai High Court records that 1.6 Lakhs ATMs have been installed throughout the country to serve the public.
However, RBI has imposed restrictions on usage of ATM based on requests from Indian Banks Association.
As per this restriction, the number of times a customer can use ATMs (different from the bank with the individual’s account) has been reduced from 5 times in a month to 3 times (from 1st November, 2014) in Mumbai, Delhi, Chennai, Bangalore, Hyderabad, and Kolkata.
The petition demands that this restriction should be withdrawn considering the public convenience.
Judges V Dhanapalan and V M Velumani heard this petition and ordered that a notice should be sent to Chief General Manager, and heads of Indian Banks’ Administration.
