ATMs in India going free...

Saturday, March 21, 2009

ATMs in India going free...

This post is specific to India

Effective from April 1, 2009, customers will be able to withdraw money from the ATMs of any bank in India without shelling out any fee for the same, as per the new circular issued by the Reserve Bank of India (RBI).

RBI has directed banks to permit customers of one bank to use ATMs of other banks for free for all transactions.

Isn't it great news :)

But, my question is, then why would banks start new ATMs, their customers can use that of other banks...


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