ATM card Current Affairs, GK & News

ATM cash withdrawal rule changed

Reserve Bank of India (RBI) has changed some rules regarding cash withdrawal from automated teller machine (ATM). New rules include high charges on transactions beyond free permissible limit, new free ATM transaction limit and increase in interchange fee. Highlights Changes were made on the basis of recommendations of Chief Executive committee it constituted in June ..

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Payment Banks

Payments banks are a new model of banks conceptualised by the Reserve Bank of India (RBI) to meet government’s financial inclusion target. It will be set up as a differentiated bank and will confine its activities to acceptance of demand deposits, remittance services, Internet banking and other specified services but cannot undertake lending services. Payments ..

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SBI allows depositors to withdraw cash from its Point of Sale (PoS) devices

In a bid to ease the cash crunch, the State Bank of India (SBI) has decided to allow depositors to withdraw cash from its Point of Sale (PoS) devices available with merchants. This “[email protected]” facility will be available for customers of all banks and can be used in about 80% of SBI’s PoS devices across ..

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