New Delhi: The Reserve Bank of India on Tuesday constituted a six-member committee to review the ATM interchange fee structure with a "view to give a fillip to the ATM deployment in the unbanked areas". There have, however, been persistent demands to change the ATM charges and fees. The terms of reference of the committee are as under:1) To review the existing structures and patterns of costs, charges and interchange fees for ATM transactions. 2) To review the overall patterns of usage of ATMs by cardholders and assess the impact, if any, on charges and interchange fees. 4) To make recommendations on the optimal charge/interchange fee structure and pattern.

Source: Mint June 11, 2019 15:33 UTC