Govt banks re-evaluating ATM charges
Even as State Bank of India, the country's largest lender, has decided to charge its customers for more than fivetransactions through automated teller machines (ATMs), private sectors banks continue to be on a wait-and-watch mode. However, following SBI's decision, some major public sector banks are re-evaluating the cost of ATM transactions and are likely to take a decision on restricting the number of free transactions. Among them is public sector lender IDBI Bank. A senior IDBI bank executive said: "As of now, the bank has not changed the terms for ATM usage though RBI (Reserve Bank of India) permitted us. But it has become an expensive proposition, especially when our customer uses other banks' ATMs. An internal assessment is underway for taking a call on revising the terms and charges." IDBI Bank has 2,727 ATMs at the end of September 2014, he added. A Bank of India official also said they have not revised the charges as of now, but they will review the usag...