From ATM withdrawals to a/c balances, banks are back to charging customers

Banks, or the government, did not notify an extension of the ATM related rules, which meant that banks can now charge their customers like before

ATM, DEMONETISATION, Rs 500, currency notes

Starting July 1, and depending upon the nature of the account, banks will limit ATM withdrawal limit to eight – five from own bank ATM and three from other ATMs in metro areas.

Anup Roy Mumbai
Finance Minister Nirmala Sitharaman had announced a number of measures, especially for banking, to make life easy for the common citizens for three months.

These included complete waiver from maintaining minimum balance, and free of charge withdrawal from any bank automated teller machines. She also extended the date of filing income tax return to June 30, from March 31, similar extension on filing goods and services tax (GST) returns, no late fee or penalty on filing GST returns, increased the threshold for default by companies under the Insolvency and Bankruptcy Code to Rs 1 crore, from Rs 100,000 and promised to suspend certain clauses of the Insolvency Code.

The Finance Minister that time had also promised to bring an

First Published: Jul 02 2020 | 6:51 PM IST

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