The RBI on Monday has ordered all banks to suspend ATM charges on all transactions of savings bank customers until December 30. This move came in order to reduce the cash crunch people are suffering.

The waiver will be suitable for transactions done by a customer through his or her own bank ATM as well other banks.

"It has been decided that banks shall waive levy of ATM charges for all transactions (inclusive of both financial and non-financial transactions) by savings bank customers done at their own banks' ATMs as well as at other banks' ATMs, irrespective of the number of transactions during the month," the central bank said in a late evening notification.

This wave off is applicable on all transactions done from November 10 until December 30, 2016, in any bank ATM.

ALSO READ: RBI cuts repo rate by 50 basis points

BY M. DIVYA SRI