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Saturday, August 22, 2009

RBI put a cap on third party ATM withdrawals

The expulsion of Jaswant Singh from the BJP and its aftermath, continues to occupy front page coverage. The Indian Express writes "Jaswant unplugged: Advani stopped Vajpayee from acting against Modi". In an exclusive, the Indian Express describes Jaswant Singh's just released magnum opus - with words such as "Exhaustive, Erudite, Penetrating and well-written".
The Times of India reports "With the Ambani feud reaching the highest echelons of Government, Prime Minister Manmohan Singh is learnt to have suggested to the warring brothers that they should make serious efforts to reach a 'middle ground'.
The Hindustan Times reports that Peace talks are to restart in Jammu and Kashmir, with Kashmirr's separatists all set to be invited for peace talks for the first time in three years.
All papers report that the RBI has put a cap on third party ATM withdrawals. The Times of India explains "This is when a card holder is using another banks ATM". With the new rule, only five withdrawls at no cost will be permitted each month, and there will be an upper limit of Rs.10,000 per withdrawal. Banks, burdened by huge third party usage, are likely to implement the change from 1st October.

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