However, some of these relaxations ended today, i.e., July 1, 2020.
Here is a look at four money-related changes that have come into effect from today.
- Restrictions on ATM withdrawals are back
The government, on March 24, announced that for three months debit cardholders could withdraw from any ATM for free without limits on the number of withdrawals. From today, however, this relaxation has ended, and the regular limits and charges will apply.
Here is a look at the number of free transactions an ATM-cum-debit cardholder can make, as per the Reserve Bank of India (RBI) guidelines:
Transactions at a bank’s own ATM at any location: Minimum of five free financial transactions in a month, irrespective of the location of ATMs. Any number of non-cash withdrawal transactions will be provided for free.
Transactions at any other banks’ ATM at metro locations: If the ATMs are located in any of the six metro locations, i.e., Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, and New Delhi, banks shall offer minimum of three free transactions (including financial and non-financial transactions) in a month to their savings bank account customers.
Transactions at any other banks’ ATM at non-metro locations: At any location, other than the six metro mentioned above, banks must offer its…