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of <h1>RBI clarifies failed ATM transactions due to tech issues shouldn't count towards free transaction limit under Payment Act 2007.</h1> The circular from the Reserve Bank of India addresses the issue of ATM transactions and clarifies that failed transactions due to technical reasons, such as hardware or software issues, lack of currency, or other bank/service provider errors, should not count towards the number of free ATM transactions allowed to customers. Additionally, non-cash withdrawal transactions conducted at the issuing bank's ATM should also not be included in the free transaction count. This directive is issued under the Payment and Settlement Systems Act, 2007.
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