RBI made a list of free transactions for which banks can not charge you.

Banking News. RBI made a list of free transactions for which banks can not charge you.

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Banks offer their Saving Account customer a certain number of free transactions at ATM every month and beyond that they levy charges.

Now the RBI has clarified the list of transactions at ATMs for which banks can not charge their customers it has come to our notice that transactions that have failed due to technical reasons,

non-availability of Money in ATM, ETC.

are also included in the number of free. ATMs transactions 'RBI said in a notification on August 14.

- Banks offer a certain number of gree ATMs transactions to their cardholders every month.

- RBI has clarified that non-cash withdrawal transactions from ATMs such as balance inquiry can not be part of free transactions.

Banking News. RBI issued a notification on RTGS new time schedule.

The Reserve Bank of India has announced that the time window for Real-Time Gross Settlement (RTGS) system will be extended by one and a half hour for bank customer under RTGS, There is a continuous and real time settlement of fund transfers individually on a transaction by transaction basic.

* Previously the timing for any RTGS Transaction was till 4:30 pm. Now it has been extended to 6:00 pm.

The final cut-off for interbank transactions will be 7:45 pm.

* The New RTGS timings will be applicable for 1 June. and the time-varying charges for transactions in RTGS from 1 pm to 6 pm shall be 5 per outward transaction.

Transactions form 8am to 11 am will have no charges form 11am to 1 pm the charges will be 2 whereof 6 pm the transaction charges will be 10.

The RTGS system is primarily meant for high-value transactions. the minimum amount to be remitted through RTGS is 2 lakh with no maximum limit.