This new rule will not include free withdrawal from ATMs five times a month. You will have to pay separately, which will apply to your withdrawal when you withdraw more than 5000.
ATM Transaction Rules / Limits / Charges: If you withdraw more than 5000 rupees from ATM, now you know that you will have to pay an extra charge on withdrawing this amount. Preparations are being made to change the ATM withdrawal rules after eight years. This new rule will not include free withdrawal from ATMs five times a month. You will have to pay separately, which will apply to your withdrawal when you withdraw more than 5000.
Charge of Rs 24 for withdrawals over 5 thousand
According to media reports, customers will have to pay an additional Rs 24 for withdrawing more than Rs 5000 from an ATM. As per the existing cash withdrawal rules from ATMs, cash withdrawals can be made free five times a month. If a cash withdrawal is made more than five times in a month, a fee of Rs 20 is to be paid on the sixth withdrawal.
Recommendation of RBI Committee
The rules for withdrawing cash from ATMs are being changed based on the recommendations made by a committee of the Reserve Bank of India (RBI). However, the committee's report has not yet been made public. This information is given in the information sought under the Right to Information Act (RTI).
The report was submitted to RBI only in October last year
The committee constituted to review the ATM fee of RBI has submitted its recommendations. Based on this, banks can change the ATM fee after eight years. According to the information given in the RTI, the Reserve Bank committee had suggested reducing cash withdrawals. The committee headed by VG Kannan, the Indian Banks' Association's Chief Executive Officer, has submitted its report to ease the cash withdrawal habit. He submitted this report to the Reserve Bank on 22 October 2019. However, it was never made public. RTI activist Shrikant L had sought information in this regard from RBI through RTI.
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 "If you withdraw more than Rs 5000 from ATM, then you have to pay an additional charge; know what the new rule is")
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