RBI hikes ATM interchange fee from Rs.15 to Rs. 17 from Aug 1.

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Cashflow of the nation has never restored to pre-demonetisation era. Still have to run to 2 or 3 ATMs for one withdrawal. The amount of hardships enforced on daily basis to the Indian people is staggering. But all for greater good right? Yeah effin morons.

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ithehappy wrote:

Cashflow of the nation has never restored to pre-demonetisation era. Still have to run to 2 or 3 ATMs for one withdrawal. The amount of hardships enforced on daily basis to the Indian people is staggering. But all for greater good right? Yeah effin morons.

True.
Most of the physical cash vanished. Most ATMs display either No cash or Only 2000 notes available. Where did the 100s go?
I guess 100s are being hoarded as black money as they are less likely to be demonetized.
speak_no_evil
It’s all for the greater good.

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rogerthat wrote:

So what

Nothing .. just information

BTW we say so what to everything these days like hike in petrol, diesel cooking oil, etc

just a hike, so wat

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ULYSSES wrote:

I guess 100s are being hoarded as black money as they are less likely to be demonetised.

Thank you🙂 for suggesting the idea that next time… they (₹100 worth legal tender) have to be phased out in favour of ₹400 worth currency notes (500×4 = 2000, so 100×4 would be the new introduction).

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gov4tman wrote:

Thank you🙂 for suggesting the idea that next time… they (₹100 worth legal tender) have to be phased out in favour of ₹400 worth currency notes (500×4 = 2000, so 100×4 would be the new introduction).

I prefer odd multiples like 300, 700, 1100, 1700.
I hope government launches them in future.

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ULYSSES wrote:

I prefer odd multiples like 300, 700, 1100, 1700.
I hope government launches them in future.

classic👌🏽😂😂😂

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ULYSSES wrote:

I prefer odd multiples like 300, 700, 1100, 1700.
I hope government launches them in future.

I am eagerly waiting for 49 and 99 as many products r sold at prices ending with these. No more ₹1 loss.

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insta wrote:

I am eagerly waiting for 49 and 99 as many products r sold at prices ending with these. No more ₹1 loss.

smile
That will waste a significant amount of time in counting and a lot of change errors with both customers and cashiers at manual counters.
If implemented, this should be world wide so that we can have an upper hand.

I read somewhere that a study revealed that even average Asians are much better at counting comparatively all over the world.
For example, in Asia if the bill is 55 and a customer gives 100 note + 5 coin, the cashier will immediately return 50 note.
But in western countries the cashiers get confused about extra 5 coin.
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ULYSSES wrote:
smile
That will waste a significant amount of time in counting and a lot of change errors with both customers and cashiers at manual counters.
If implemented, this should be world wide so that we can have an upper hand.

I read somewhere that a study revealed that even average Asians are much better at counting comparatively all over the world.
For example, in Asia if the bill is 55 and a customer gives 100 note + 5 coin, the cashier will immediately return 50 note.
But in western countries the cashiers get confused about extra 5 coin.

This is true, i have experienced personally. Foreigners get confused with change. It may be coz they mostly have been using cards since childhood.

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There is a free limit of 5 transaction with same bank atm which is not mentioned , and the one who uses above that limit has enough money to pay for the charges .
About Atm Dry , in mumbai almost negligible time , never faced such issue ,but many times the machines are not working ,poor maintenance.

Missing