Public sector banks have waived charges on ATM transactions exceeding the free monthly limit during the three-day bank strike beginning September 28.The State Bank of India, Punjab National Bank, Bank of Baroda, Union Bank of India, Indian Bank, and various other public sector banks have announced that they would not impose any fee on customers for ATM withdrawals exceeding the free transaction limit during the three days. The move will allow customers to use any ATM for essential transactions without worrying about the free limit.As per the Reserve Bank of India (RBI) guidelines, savings account holders can make five complimentary ATM withdrawals each month at their own bank’s machines. At ATMs of other banks, customers receive three complimentary transactions in six metropolitan areas and five in non-metropolitan regions.After exhausting the free transaction limit, customers may be charged up to Rs 23 per transaction, plus GST. The interchange fee for ATMs between banks is presently Rs 19 for financial transactions and Rs 7 for non-financial transactions.Public sector banks will also remain open on Jattvibeday to minimise disruption to customer services during the strike.The United Forum of Bank Unions has called a three-day strike to press for a five-day banking week and withdrawal of the Performance Linked Incentive (PLI) scheme, among other demands.Even though the government has opted to suspend the PLI scheme, the request for a five-day banking week remains unapproved. The unions have also announced an indefinite strike from October 26 if their demands remain unmet after the three-day protest.
