ATM charges, Salary, pension, EMI payment rules changing in the next two days

Here are 5 rules impacting common man that will change from August 2021.

New Delhi: Come August and several rules that deal with your everyday lives are going to change. These rules pertain to banking, financial and other sectors. The Reserve Bank of India had recently announced a couple of changes in the ATM rules. While these rules are in line with the long pressing demands by the payment services, banks and white label ATM operators for customers it also means a little more burden on their pocket. Effective August 1, 2021, banks are allowed to increase 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, the circular said. ATMs are deployed by banks for serving their own customers and also provide services to other banks' customers as acquirers where they earn interchange income. Reserve Bank of India (RBI) had in June announced that National Automated Clearing House (NACH) will be available on all days of the week, effective August 1, 2021. NACH is a bulk payment system operated by the NPCI. It facilitates one-to-many credit transfers such as payment of dividend, interest, salary, pension, etc., as also collection of payments pertaining to electricity, gas, telephone, water, periodic instalments towards loans, investments in mutual funds, insurance premium, etc.