If recent RBI guidelines which allows banks to open ATM anywhere as per bank’s choice is any indication, then number of ATMs should grow by many fold soon! A good news for banking customer! With the lifting of transaction fees while withdrawing cash from other bank’s ATM and with allowing banks to open ATM at will, we can safely hope to decrease foot falls in bank’s premises.
The RBI in line with the proposal in its annual policy statement on Friday said it “permits Scheduled Commercial Banks to install off-site ATMs at centres/places identified by them, without having the need to take permission from the Reserve Bank in each case”.
Earlier, banks could only install the ATMs without the permission of the Reserve Bank at the bank branches and extension counters.
The banks should however, report full details of the off-site Automatic Teller Machines (ATMs) installed by them in terms of general permission to the Regional Office concerned, the RBI said in statement issued here today.
Here is the complete news and source :
bankBanks can now open ATMs with ease, as the Reserve Bank on Friday authorised them to install these machines at places of their choice, without having to seek its permission. Source.
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