India, April 30 -- The Reserve Bank of India (RBI) has updated the framework for ATM charges, which will be effective on Thursday (May 1). The changes will affect free transaction limits, charges for additional transactions, and interchange fees in the country's banking system.

According to the new rules, customers can use the ATM for a set number of transactions in a month, after which a fee will be charged. There will be three free transactions in metro areas and five in non-metro areas, and they will include both financial and non-financial transactions.

Once the transaction limit is reached, a customer may be charged Rs.23 for every additional transaction that they make using the ATM and the Cash Recycler Machines (CRMs). But the ch...