Money & Banking

RBI tweaks rules on ATM transactions

Our Bureau Mumbai | Updated on August 14, 2019 Published on August 14, 2019

ATM transactions which fail on account of technical reasons like hardware, software, communication issues and non-availability of currency notes cannot be counted as valid transactions for the customer, according to the Reserve Bank of India.

What this means is that such transactions will not be included in the number of free ATM transactions.

No charges can be levied on transaction which fail on account of technical reasons and other declines ascribable directly/wholly to the bank/service provider; invalid PIN/validations; etc, the RBI said in a clarification to banks and white-label ATM operators.

Published on August 14, 2019
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