The Reserve Bank of India (RBI) has announced today that from May 1, the fee for ATM withdrawals beyond the free monthly limit will increase by Rs 2, effectively meaning that customers will now be charged up to Rs 23 for each transaction that exceeds the free limit, marking an upward adjustment in ATM withdrawal fees. The fee stood at Rs 21 per transaction. RBI also noted that customers will still be allowed five free transactions (both financial and non-financial) per month at their own bank's ATMs. Additionally, they can make free transactions at other banks' ATMs'three in metro cities and five in non-metro areas.

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