ATM cash withdrawals to cost more? Operators seek hike in interchange fee

The Confederation of ATM Industry has proposed to the RBI and NPCI to increase the interchange fee, potentially raising costs to Rs 23 per transaction after free limits.

ATM cash withdrawals

Despite an increase in digital payments, a lot of people still depend on banks as well as ATMs to meet their cash requirements. However, cash withdrawals from ATMs might get costlier for the people.

As per Business Today report, the Confederation of ATM Industry (CATMI) has approached the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to request an increase in the interchange fee.