Committee to Review the ATM Interchange Fee Structure

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..... Committee to Review the ATM Interchange Fee Structure - News and Press Release Dated:- 11-6-2019 - News - It was announced in the Part B of the Second Bi-Monthly Monetary Policy for the year 2019-20 on June 6, 2019 that the Reserve Bank of India will constitute a Committee to Review the ATM Interchange Fee Structure with a view to give a fillip to the ATM deployment in the .....

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..... unbanked areas. Accordingly, the Reserve Bank of India has constituted a Committee to examine the entire gamut of ATM charges and fees. The composition of the Committee is as under: 1 Shri V. G. Kannan Chief Executive, Indian Banks Association Chairperson 2 .....

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..... Shri Dilip Asbe Chief Executive Officer, National Payments Corporation of India Member 3 Shri Giri Kumar Nair Chief General Manager, State Bank of India Member 4 Shri S Sampath Kumar .....

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..... Group Head, Liability Products, HDFC Bank Ltd. Member 5 Shri K Srinivas Director, Confederation of ATM Industry Member 6 Shri Sanjeev Patel Chief Executive Officer, Tata Communications Payment Solutions Ltd. .....

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..... Member The Terms of Reference of the Committee are as under: To review the existing structures and patterns of costs, charges and interchange fees for ATM transactions; To review the overall patterns of usage of ATMs by cardholders and assess the impact, if any, on charges and interchange fees; .....

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..... To assess the entire gamut of costs in respect of the ATM ecosystem; To make recommendations on the optimal charge/interchange fee structure and pattern; and Any other item relevant to the above. The Committee may submit its report within two months from the date of its first meeting. Yogesh Dayal Chief Gene .....

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..... ral Manager - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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