ATM Cash Withdrawal Limit Raised From Rs. 4,500 To Rs. 10,000 A Day, Says RBI

On December 28, the RBI had revised the cash withdrawal limit from Rs 2,500 to Rs 4,500, which came into force on January 1, 2017. The move had been hailed by cash-strapped people all over the country.

The RBI had imposed these limits in November after the government announced a ban on all high-value currency notes, and said it would replace them with new notes.
Long queues had been visible outside banks and ATMs following the demonetisation of Rs 500 and Rs 1,000 notes.

“The limit on withdrawals from ATMs has been enhanced from the current limit of Rs 4,500 to Rs 10,000 per day per card. It will be operative within the existing overall weekly limit,” the central bank said in a statement.

However, the weekly withdrawal limit from banks remain at Rs 24,000 per week.

The limit on withdrawal from current accounts has been enhanced from the current limit of Rs 50,000 per week to Rs 1,00,000 per week. This also extends to overdraft and cash credit accounts. These relaxations will be in effect from Monday midnight i.e 16 January 2017.

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