New Delhi: The first day of any month often proves to be significant, as it frequently marks the implementation of changes to various major regulations. Many of these changes have a direct bearing on the lives of ordinary citizens. Moreover, April 1st marks the beginning of the new financial year. Consequently, most institutions tend to revise their rules and policies around this time.
Are you aware that, starting April 1st, banks across the country are set to implement major changes regarding ATM usage? These changes will coincide with the commencement of the new financial year. The revisions—announced by major commercial banks and payments banks—are expected to impact cash withdrawal limits, transaction charges, and the very methods customers use to withdraw cash.
This Bank Confirms the Change
HDFC, one of the country’s leading banks, has confirmed and shared important information with its customers. The bank has confirmed that UPI-based cash withdrawals made at ATMs will now be counted toward the monthly limit for free transactions. Previously, these withdrawals were treated as a separate category; however, they will now be included in the total count of permissible free transactions.
Furthermore, account holders who exceed their monthly withdrawal limit will now be charged up to ₹23 per transaction, in addition to applicable taxes. Additionally, most customers are entitled to five free cash withdrawals per month at HDFC Bank ATMs. Beyond this, customers in metro cities are entitled to three free transactions per month at ATMs belonging to other banks, while those in non-metro areas can avail of five free transactions.
Punjab National Bank Also Implements Changes
Punjab National Bank (PNB)—India’s second-largest bank—has revised the daily cash withdrawal limits for select debit cards. Under the new regulations, customers will be able to withdraw amounts ranging from ₹50,000 to ₹75,000 per day, depending on the specific type of debit card they hold. Concurrently, the withdrawal limits for certain cards—which previously allowed withdrawals of up to ₹1,00,000—will now be reduced.
The objective behind this move is to standardise usage protocols and enhance risk management practices. Meanwhile, Jio Payments Bank has introduced a new QR code-based cash withdrawal facility. Through this, customers can withdraw money by scanning a UPI QR code and authorising the transaction via a UPI application with designated banking representatives.
