Tamil Nadu Chief Minister M K Stalin has criticized the Reserve Bank of India’s (RBI) recent decision to allow banks to charge customers up to Rs 23 for ATM withdrawals that exceed monthly limits. Stalin argues that this move will disproportionately impact economically disadvantaged individuals, such as MNREGA workers and beneficiaries of the state’s Kudimaramathu (KMUT) scheme. He has labeled this policy as ‘institutionalised extraction’. The Chief Minister’s comments come in the wake of widespread backlash against the RBI’s directive, with many questioning the impact it will have on those who rely on cash transactions for their daily needs. The move is seen as particularly concerning at a time when the country is still grappling with the economic fallout of the COVID-19 pandemic. Critics argue that charging fees for ATM withdrawals could further exacerbate financial hardships for vulnerable populations. The RBI, on the other hand, has defended its decision, stating that it aims to rationalize ATM usage and promote digital transactions. However, the move has faced criticism from various quarters, with many calling for a reconsideration of the policy in light of its potential impact on the most vulnerable sections of society.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tamil Nadu Chief Minister M K Stalin has criticized the Reserve Bank of India’s (RBI) recent decision to allow banks to charge customers up to Rs 23 for ATM withdrawals that exceed monthly limits. Stalin argues that this move will disproportionately impact economically disadvantaged individuals, such as MNREGA workers and beneficiaries of the state’s Kudimaramathu […]<\/p>\n","protected":false},"author":0,"featured_media":85186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-119744787imgsize-543702-1.jpg",1280,720,false],"thumbnail":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-119744787imgsize-543702-1-150x150.jpg",150,150,true],"medium":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-119744787imgsize-543702-1-300x169.jpg",300,169,true],"medium_large":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-119744787imgsize-543702-1-768x432.jpg",640,360,true],"large":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-119744787imgsize-543702-1-1024x576.jpg",640,360,true],"1536x1536":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-119744787imgsize-543702-1.jpg",1280,720,false],"2048x2048":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-119744787imgsize-543702-1.jpg",1280,720,false]},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/85185"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=85185"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/85185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media\/85186"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=85185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=85185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=85185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}