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RBI sets up committee to Review the ATM Interchange Fee Structure 12/06/2019 12:41

The Reserve Bank of India has constituted a Committee to examine the entire gamut of ATM charges and fees, as per the Second Bi-Monthly Monetary Policy, Part ‘B’ report for the year 2019-20 released on June 6, 2019.

The committee will review the existing structures and patterns of costs, assess the entire gamut of costs in respect of the ATM ecosystem.

The composition of Committee includes V. G. Kannan (Chief Executive, Indian Banks’ Association) as the Chairperson and Dilip Asbe (CEO, National Payments Corporation of India), Giri Kumar Nair (Chief General Manager, State Bank of India), S Sampath Kumar (Group Head, Liability Products, HDFC Bank Ltd), K Srinivas (Director, Confederation of ATM Industry), Sanjeev Patel (CEO, Tata Communications Payment) as the members.

The Committee may submit its report within two months from the date of its first meeting.

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