Out of cash: How the ATM ecosystem continues to be mired in a quicksand

The demand for a hike in the interchange hides a bigger mess, reports Raghu Mohan

ATM, ATM machine

The industry, as on date, is in violation of all prescriptions, and has still not attracted the banking regulator’s or the MHA’s ire

Raghu Mohan
Your (automated teller machine) ATM withdrawal charges may have been waived for the next three months due to the COVID-19 crisis, but things could change significantly once things return to normalcy. And you may have to shell out Rs 18 every time you pull out cash from the ATM. A year, and more after the outcry over the low interchange at Rs 15, a confidential Mint Road review is said to have plumped for a hike of Rs 3 per swipe. It will not go far.

“Even if it (interchange) were to move up to Rs 18, it will only be a restoration to the level we were at a decade ago. Much has changed since,” says Ravi B Goyal,

First Published: Mar 24 2020 | 8:45 PM IST

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