The cost structure of automated teller machine (ATM) channels is likely to get an update.
The interchange fee paid by the card-issuing bank when a customer swipes at another bank's ATM, including at white-label ATMs may be raised to 2023. Higher cash withdrawals, meanwhile, may soon attract an additional convenience charge.
Also, differential pricing may be deployed for customers in underpenetrated centres to aid withdrawals by direct benefit transfer (DBT) beneficiaries.
This is part of the recent deliberations between the Confederation of ATM Industry (Catmi) and the Reserve Bank of India (RBI). It comes amid fresh orders for ATMs and cash recycling machines hitting 45,000 between September 2023 and March 2024.
This story is from the April 29, 2024 edition of Business Standard.
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This story is from the April 29, 2024 edition of Business Standard.
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