Friday, August 21, 2009

How far is your bank's ATM?

You seem to be very happy these days. What could be the reason? I thought a lot and remembered the day when RBI (Reserve Bank of India) gave us the freedom to shell out the money from any bank's ATM free of cost. I know, many of us went to other bank's ATM just to check whether it works. Oh! it works. Yippie!


Ok, now stop being too happy because it's time you should behave responsibly. Every time, you take the money out from some other bank's ATM, your bank has to pay for this transaction around 20 Rs. IBA (Indian Bank's Association) had complained about this to RBI. Now, RBI is going to make a rule very soon that at one time you can take max 10,000 Rs from other bank's ATM and that facility will also be limited to 5 times every month. So, just beware of the new rules and try to use your own bank's ATM.

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