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RBI FOR WAIVING ATM CHARGES FOR SENIOR CITIZENS, DIFFERENTLY-ABLED


The Reserve Bank of India wants banks to do senior citizens and physically/visually challenged customers a good turn.

The banking regulator wants banks to see if these category of customers can be allowed unlimited number of ATM transactions at any bank ATM. It also wants the annual ATM card fee waived for these customers.

Since senior citizens and physically challenged persons will use ATMs only for genuine purposes, banks could allow them to use any bank ATM for any number of times, said Mr S. Govindan, General Manager, Union Bank of India.

Currently, banks allow their customers to use other bank ATMs without any charge five times a month.

 “Once the limit on the number of transactions at other bank ATMs is removed, then a senior citizen or a physically challenged person can go the ATM nearest to him any number of times without fear of a fee,” explained Mr Govindan. With senior citizens travelling across the country either to be with their children, or visit relatives, or on pilgrimage, the liberty to use any bank ATM without a cap on the number of transactions would prove beneficial.

ATM CARD FEE
Banks will be willing to waive the annual ATM card fee to encourage senior citizens and handicapped persons to move to alternative banking channel (ATM), said a banker. Some banks charge Rs 100-500 as annual ATM card fee.

DOORSTEP BANKING
The RBI also wants banks to explore the possibility of providing doorstep banking service to the physically challenged.

Mr Govindan said providing this service could be a challenge. However, down the line this could be done once banks have sufficient number of Business Correspondents.

Last year, the RBI-appointed Damodaran Committee on Customer Service had recommended that banks could disburse pension to sick and disabled pensioners at their doorstep by utilising the services of Business Correspondents.

PENSIONERS' PLEA
Pensioners' Associations across the country had represented to the Committee that for pensioners above the age of 80 and those who are sick/disabled in rural and semi-urban areas, there should be some arrangements to disburse the pension at the doorstep through vans or through Business Correspondents.

The Committee felt that such special treatment is required for this class of pensioners.

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