RBI hikes ATM charges beyond free limit to Rs 23
Starting May 1, 2025, banks can charge Rs 23 per ATM transaction once a customer exhausts their monthly free limit, as per RBI’s revised guidelines. Earlier, the cap was Rs 21. Customers are allowed five free transactions per month at their own bank’s ATMs, and three (in metros) or five (in non-metros) at other bank ATMs. The revised fee also applies to cash recycler machines, excluding deposits. The RBI’s March circular also noted that ATM interchange fees remain Rs 17 for financial and Rs 6 for non-financial transactions. As of March-end, India had 2.55 lakh ATMs, including white-label and cash recyclers. Banks are expected to update customers via SMS or email, ensuring transparency.
PM Modi to inaugurate Vizhinjam port
Prime Minister Narendra Modi will inaugurate India’s first international deepwater container trans-shipment terminal at Vizhinjam near Thiruvananthapuram on Friday. Built by Adani Ports, the Rs 18,000 crore project positions India as a key global maritime hub. The port, just 10 nautical miles from international shipping lanes, can host the world’s largest ships. Political rivalry flares as both CPI(M) and Congress claim credit, despite prior opposition. Since trial runs began in July 2024, the port has handled 240 ships and generated Rs 43.74 crore in GST. Security has been tightened ahead of the PM’s visit. The dedication ceremony is set for 11 am, with Modi expected to address the nation.