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Description: The Reserve Bank of India on Thursday permitted all banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. There has been a marginal increase from Rs. 20 to 21 starting January 1, 2022. However, banks have now been permitted to increase their interchange fee from Rs.15 to 17 for cash transactions and from Rs.5 to 6, for non-cash transactions starting from August 1, 2021. Let’s talk about these issues in detail.
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