RBI forms Committee to Review the ATM Interchange Fee Structure; Head- V. G. Kannan
- The Reserve Bank of India has formed a six-member committee to Review the ATM Interchange Fee Structure with a view to give a fillip to the ATM deployment in the unbanked areas. The committee is headed by Shri V. G. Kannan.
- Shri V. G. Kannan is the Chief Executive of Indian Banks’ Association. The role of the committee is 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;
- 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
Points to remember:
- Head of the committee to Review the ATM Interchange Fee Structure?
- Number of members?