RBI hikes ATM interchange fee per transaction from Rs 15 to Rs 17

The increase comes after 9 years

The Reserve Bank of India (RBI) on Thursday allowed an increase in the interchange fee structure for ATM transactions after almost 9 years, considering the increasing cost of Automated Teller Machines (ATM) deployment and expenses towards ATM maintenance incurred by the banks and white label ATM operators. 

Accordingly, the RBI has hiked the interchange fee per transaction from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions in all centres, effective August 1, 2021. 

The card issuing bank pays an interchange fee to the operator of the ATM when a customer