CURRENT AFFAIRS

Detailed explanation-1: -According to the change in regulations from the Reserve Bank of India, customers are now entitled to three free ATM transactions each month instead of five transactions. The rule is applicable for customers in Bengaluru, Mumbai, Chennai, Kolkata, Delhi, and Hyderabad.

Detailed explanation-2: -Customers are allowed five free transactions at their bank ATMs every month, and the limit is three free transactions for other bank ATMs. Customers in non-metro centres can avail of five free transactions at other bank ATMs.

Detailed explanation-3: -ATM cash withdrawal rules: Usually, banks offers five free transactions at the ATMs every month. All the lenders provide a limited number of free ATM transactions every month. Once the limit is exhausted, banks levy a charge along with taxes for any further transactions, including financial and non-financial services.

Detailed explanation-4: -The ATM has a 50, 000 limit per day. The same 3 and 5 policy for free ATM withdrawals is provided by Axis Bank. Following that, the bank assesses a withdrawal fee of 21.

Detailed explanation-5: -For transactions that are declined due to insufficient balance, SBI charges ₹ 20 plus applicable GST. Customers who maintain a monthly balance of ₹ 1 lakh or more are offered unlimited free transactions-financial and non-financial, at SBI or other bank ATMs.