Srinagar, March 26 -- The National Payments Corporation of India (NPCI) and the Reserve Bank of India have approved to increase the ATM interchange for cash withdrawals from Rs 17 to Rs 19 with effect from May 1, 2025.The interchange was revised for domestic financial and non-financial transactions.

Non-financial transactions are subject to an interchange of Rs 7, according to an NPCI circular dated March 13.Business Standardhas reviewed the letter sent to members of the National Financial Switch (NFS) ATM network.A separate GST is levied on the interchange rate.

'NPCI had requested RBI approval to implement this change. In this regard, RBI vide letter dated 11th March 2025 has advised NPCI that the ATM interchange fees can be decided b...