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atm in india three time use
The decision to allow banks to charge their customers for frequently using ATMs of the home- bank might prompt customers to visit bank branches more often, which in turn will increase the cost for lenders.

This is because no charges or limit have been prescribed for transactions at branches.

The Reserve Bank of India (RBI) on Thursday permitted banks to charge customers for using home- bank ATMs more than five transactions a month. Till now, banks were only allowed to charge customers if they transacted in non- home bank ATMs more than five times in a month. That cap has also been reduced to three in the six metro centres of Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad. Non- home bank ATMs refer to ATMs of banks where the customer does not have an account.

The move, however, has made lenders hopeful of recovering a significant part of the running and maintenance cost of these machines.

Bankers also expect the volume of non- financial transactions to drop sharply once charges are introduced. These transactions do not earn any revenues for banks.

“For banks, ATMs were supposed to save costs. Customers were encouraged to go to an ATM to withdraw money instead of visiting bank branches.

But in the past few years, the volume of non- financial transactions has increased substantially.

Banks do not earn any revenues from these transactions.

Also, the ticket size of financial transactions has reduced significantly, making the entire process expensive for banks. Unless there is a control, banks are losing a whole lot of money. Hence, introduction of these charges was necessary,” said a senior executive in charge of a private sector bank’s retail lending and payments business.

The transactions cover both financial and non- financial dealings. Hence, services such as balance enquiry, change of PIN, mini statement and others will also be chargeable.

However, the rate of charges has been retained at ₹ 20 a transaction. This will come into effect from November 1. Banks have been advised to communicate the charge structure according to their board- approved policy to customers in a fair and transparent manner.

“This will not lead to substantial earnings for banks but will help us recover our cost. Banks have been incurring costs in tightening the security arrangements following the attack inside an ATM in Bangalore. I dont think customers will mind paying a fee because it is ultimately for their safety,” A Surendran, head of retail and international banking business at Federal Bank, told.

Sector analysts, however, feel the decision might encourage customers to frequently visit bank branches instead of going to ATMs. It is estimated that on an average, banks incur a cost of ₹ 10 for every transaction in an ATM. But in branches, the per- transaction cost for banks is close to ₹ 50. “ In such a scenario, banks will suffer as their cost of operations will increase further,” said a banking analyst.

RBI has left it to banks to decide on the maximum number of free ATM transactions.

Most bankers did not confirm if they will start charging their customers for using homebank ATMs for more than five times a month.

“Overall, the move is good for the banking industry as it will help reduce the number of needless transactions. Also, I believe eight free transactions in a month ( considering use of both home and non- home bank ATMs) is adequate. But it is too early to say if we will introduce these charges. We have a committee, which will take a decision,” said Rakesh Sethi, chairman and managing director of Allahabad Bank.

Till now, banks were only allowed to charge customers if they transacted at non- home bank ATMs more than five times a month. That is now being reduced to three.
What Blockchain and Bitcoin Mean for the Protection Business You may have heard the expressions "blockchain" or "Bitcoin" utilized as a part of tech hovers in the course of recent years. These ideas, alongside intense utilize cases, are changing how we consider money, exchanges and contracts.

Simultaneously, they're likewise changing how we consider the protection business. These progressions will affect protection bearers and operators, and how protection is purchased and sold. That implies understanding blockchain and Bitcoin is essential in case you're hoping to win in the cutting edge protection industry. This post has you secured. It gives meanings of blockchain and Bitcoin, at that point separates why this data is critical to protection industry experts. 

WHAT IS BLOCKCHAIN? WHAT IS BITCOIN? 

In their book Blockchain Upheaval, Wear and Alex Tapscott clarify that blockchain is "the brilliantly straightforward, progressive convention that enables exchanges to be at the same time mysterious and secure by keeping up a sealed open record of significant worth." The blockchain is intended to store exchange records ("obstructs") in numerous spots, connected to each other (henceforth the "chain" some portion of the name) and straightforward to any client who wishes to see them. Critically, this record can't be changed, so anybody can see a typical and exact rundown of authentic exchanges. Bitcoin is a kind of computerized money that utilization's blockchain innovation. It's not by any means the only one that utilization blockchain, yet is one of the more prevalent alternatives available. Despite the fact that bitcoin is the most famous cryptographic money upheld by blockchain innovation, other advanced monetary forms, for example, ether and litecoin—utilize blockchain innovation too. All bitcoin exchanges are recorded in a decentralized open record that can't be adjusted. In principle, this is something worth being thankful for on the grounds that it makes trust among all gatherings of the exchange and gives an unmistakable trail of procurement that avoids fake exchanges. This is one manner by which blockchain can possibly change exchanges. However, remember that blockchain does not need to be money related. 

Ramifications OF BLOCKCHAIN AND BITCOIN FOR THE Protection Business Blockchain applications like cryptocurency, shrewd contracts and decentralized models for protection will change how protection is appropriated. What's more, when you change how protection is disseminated, you significantly modify how existing players profit and test business as usual. Insurance agencies could utilize the blockchain to make a disseminated record that cultivates straightforwardness, successfully tracks cases and exchange history, and gives perceivability into the authenticity of a claim. Brilliant contracts based on the blockchain can balance deceitful claims by recording exchange history on people in general system, which would dismiss different cases for a similar occasion. This could spare the business billions and open up gigantic chances to make huge measures of significant worth for buyers. Cryptocurriencies can make trust amongst safety net providers and their clients could make trust. For example, INGUARD was the principal insurance agency to acknowledge bitcoin installments. We did this since it was the correct activity for our well informed clients—a state of mind very rare in the protection business today. Consider: 40% of protection premiums turn over every year—and 66% of buyers would purchase protection on the web in the event that they could. 


What's more, and, after its all said and done, they're scarcely happy with back up plan sites. Shoppers don't confide in their safety net providers to put their best advantages on the most fundamental level or execute in a reasonable, break even with way. Bitcoin and blockchain innovation, as we would see it, are devices that can possibly carefully ensure customers, as well as reestablish assume that their needs are being met. Innovation appropriation in the protection business ought to dependably make more an incentive for shoppers. It should expel contact from the purchasing procedure and empower a superior client encounter. What's more, its adequacy ought to be estimated by consumer loyalty, not the amount PR or advertising duplicate another framework creates. That doesn't generally happen. In any case, with the focal points blockchain innovation gives, that could begin to change. Also, that will be advance in reality.
 
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