RBI Hikes Daily ATM Withdrawal Limit To Rs 10,000 Per Day

**New Delhi**: The Reserve Bank Of India (RBI) on Monday hiked the daily ATM withdrawal limit from Rs 4,500 to Rs 10,000 and the weekly Current Account withdrawal limit from Rs 50,000 to Rs 1 lakh.

The RBI, however, didn’t change the maximum withdrawal limit of Rs 24,000 per week.

The Central bank also increased weekly current account limit to Rs 1 lakh.

RBI said, “There are no changes in the other conditions and the relaxations as provided in our circular dated November 28,2016, will continue.

“On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same with immediate effect,” the RBI said.

On December 31, the RBI relaxed the daily ATM withdrawal limit to Rs 4,500 from the earlier cap of Rs 2,500.

The enhanced Current Account withdrawal has been extended to overdraft and cash credit accounts, the RBI said.

The caps followed the November 8 government decision to demonetise the Rs 500 and Rs 1,000 notes, a decision which triggered widespread cash crunch in the country.

On November 08, 2016, the PM Narendra Modi-led panel demonetised high-denomination notes following which the central bank had introduced many cash withdrawal limits on both ATMs and current accounts.


Related Articles

Back to top button