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Cash withdrawal limit from Jan Dhan accounts to Rs. 10,000 a month

| | Nov 30, 2016, at 06:58 pm
Mumbai, Nov 30 (IBNS) : The Reserve Bank of India has issued a notification restricting withdrawal from rural Jan Dhan accounts to Rs. 10,000 a month.

According to reports, the move has been taken to protect farmers from money launderers.

This notification applies to 'know your customer' (KYC) compliant Pradhan Mantri Jan-Dhan Yojana+ (PMJDY) accounts funded through deposits of new bank notes after November 9, 2016.

On November 8, the Centre scrapped Rs 500 and Rs 1,000 notes, and a day later banks began to dispense the new Rs 500 and Rs 2,000 notes

 

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