Multiple choice

In August 2014, according to Reserve Bank of India (RBI) banks are allowed to set a limit of ____ free transactions at their own ATMs.

  1. 5

  2. 3

  3. 7

  4. 6

  5. 4
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A Correct answer
Explanation

In August 2014, the RBI mandated that banks must provide at least 5 free transactions per month at their own ATMs. This was part of consumer protection regulations to ensure basic banking access. The limit of 5 free transactions was the standard policy adopted.

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