The Reserve Bank of India on Monday told banks and white-label ATM operators to ensure that their ATMs dispense Rs 100 and Rs 200 denomination banknotes on a regular basis within a year.
The regulator set two deadlines: by Sept. 30, 2025, at least 75% of all ATMs must dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette, and that should rise to 90% by March 2026.
The notification has been issued as part of an endeavour towards enhancing public access to frequently used denominations of banknotes, the RBI said.
More often, users complain of getting only Rs 500 denomination currency notes from ATMs, which becomes inconvenient for smaller transactions.
Last month, the RBI increased the automated teller machines fee by Rs 2 to Rs 23 per transaction with effect from May 1.
The ATM interchange fee will be as decided by the ATM network, the central bank said in a press release on Friday. The interchange fee has been increased to Rs 19 from Rs 17 for financial transactions and Rs 7 for non-financial transactions. Goods and services tax will be applied additionally on these transactions.
Customers are eligible for five free transactions, which will include financial and non-financial transactions every month from their own bank ATMs.
For ATM transactions from other banks, customers will also be eligible for free transactions for only three transactions in metro centres and five transactions in non-metro centres. However, a fee will be levied after customers exhaust their free transactions limit, the RBI said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
