ATM Cash withdrawal reduced to 3 times
ATM cash withdrawals are reduced to 3 times only in 6 cities in india like Bangalore, Hyderabad, Mumbai, Chennai, Kolkatta, New delhi. This is however not applicable to small/Basic Savings Bank Deposit Account (BSBDA) type of accounts and for transactions done by savings bank account holders at ATMs situated outside these six metro centres.
Its again a bomb on public. I dont know why RBI allowed this. There are many banks which does not atms, users of those banks can use other ATMs.
Now those who have accounts in small banks have to run in search of ATM.
The move is good for large banks which has lot of ATM as theire reputation will go up and account holders dont have to run to search an ATM.
For account holders in small banks, its a kick as they have to search ATM to transact otherwise pay fees.
With this move more and more banks will open ATM, its a good move in one way that account holders will have access to new ATMs, since now days most of the transaction can be carried through ATMs.
Its due to some Bank who stop instalation of ATM machine... which lead to Bigger bank to ask for reducing non bank transaction