The Indian Banks Association and the banks will take a fresh look at the proposed charge on transactions done at ATMs. This was one of six action points mooted at a recent annual Banking Ombudsmen conference. In order to provide enhanced security at ATMs, banks plan to cap the number of free ATM transactions to five a month, irrespective of whether customers use their own bank or another bank’s ATMs. The practice of levying a penalty for non-maintenance of a minimum balance in ordinary savings bank accounts was also discussed at the conference. Henceforth, banks may consider converting such accounts into Basic Savings Bank Deposit accounts. Banks have also to ensure that fixed rate loans are truly fixed and not referenced to any floating rate benchmark. The banks will also formulate a policy on zero liability of customers in electronic banking transactions, when a bank is unable to establish customer-level negligence.