Cool, good to know. I called and asked the bofa folks after I posted my earlier response. They said if BNP, DB etc have ATMs in India, then its free (which is mind-boggling)
But with Citibank, there is a foreign ATM fee ($5) and they also keep a %age of the funds. But hey its good to know I can use it though. BofA also has a caste system based on what kind of account you have, so I'll probably go into my bank and ask them how it applies for me.