The lockdown, which was triggered by the spread of the COVID, had also reduced ATM transactions. Reports that the exemption rates will be restored by July 30. Transactions, including ATM transactions, on-line transactions, and minimum balance in the wake of the lockdown, were not levied. If the lockdown concessions are not extended, the old rates will be charged for transactions from July 1 onwards.
There are two new changes in transactions from July 1 through ATMs. The first change is regarding bank charges. In the backdrop of Kovid 19, the central finance ministry did not charge extra for withdrawing money from the ATM. Another benefit was that there was no need to keep the minimum balance in our bank account. Fine was not charged at Lockdown. The duration of these two favors was only until June 30.
Bank Transaction Charges will begin to be levied after July 1. Based on the information provided on SBI’s website, rural customers can make up to 8 transactions per month from the ATM for free. 5 of these transactions can be made through SBI ATMs and the remaining 3 transactions can be made through other banks’ ATMs. People in cities can do 10 transactions a month. 5 of which can be transacted through SBI’s ATM and 5 through other ATMs. 20 and GST will be charged for transactions after that. Other transactions will be charged Rs 8 and GST. Another change is the minimum balance. If you do not keep the minimum balance, you will be charged a fine.
