High Court notice to RBI – why charge ATM usage?
Posted on: 25/Dec/2014 6:28:38 PM
Reserve Bank of India recently announced that banks can charge extra whenever their savings account holders use their ATMs more than 5 times a month from the 5th time onward.
Delhi High Court has sent a notice to RBI to explain this.
Delhi High Court has informed that RBI, Indian Banks Association, State Bank of India, etc should inform their views before 18th February.
In this case pertaining to public welfare, the bench of judges informed that the banks should not charge their customers unnecessarily.
This petition was given by advocates Swati Agarwal & Vivek Kumar Tandon. They presented that the additional charges for use of ATM is not warranted. They informed that no other country charges or limits for use of ATMs. He also informed that RBI had transgressed from its circular dated 10th March, 2008 of strict adherence to international practice.
