The correct answer is: A. 1st January, 2009
The Reserve Bank of India (RBI) had announced on 24th December 2008 that all banks would start sharing their ATMs free of cost for transactions from 1st January 2009. This decision was taken in order to promote financial inclusion and to make it easier for people to access banking services.
The RBI had also said that banks would have to provide free ATM access to their customers at least once a month. This was done in order to ensure that customers did not have to pay any charges for using ATMs.
The decision to allow free ATM transactions was welcomed by many people. It was seen as a step in the right direction towards making banking services more accessible to everyone. However, some people also raised concerns about the impact of this decision on the profitability of banks.
Despite these concerns, the RBI’s decision to allow free ATM transactions has been a success. It has made it easier for people to access banking services and has helped to promote financial inclusion.
Here is a brief explanation of each option:
- Option A: 1st January, 2009. This is the correct answer. The RBI had announced on 24th December 2008 that all banks would start sharing their ATMs free of cost for transactions from 1st January 2009.
- Option B: 1st April, 2009. This is incorrect. The RBI’s decision to allow free ATM transactions came into effect from 1st January 2009, not 1st April 2009.
- Option C: 1st July, 2009. This is incorrect. The RBI’s decision to allow free ATM transactions came into effect from 1st January 2009, not 1st July 2009.
- Option D: 1st September, 2009. This is incorrect. The RBI’s decision to allow free ATM transactions came into effect from 1st January 2009, not 1st September 2009.