November 05, 2024 20:24 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
RBI removes ATM cash withdrawal limt from Feb 1

RBI removes ATM cash withdrawal limt from Feb 1

| | 30 Jan 2017, 06:03 pm
New Delhi, Jan 30 (IBNS): Giving relief to people across the nation, the Reserve Bank of India on Monday announced its decision that limits placed on cash withdrawals from ATMs stand withdrawn from Wednesday.

The RBI, however, said the  banks may, at their discretion, have their own operating limits as was the case before Nov 8.

The bank on Jan 16 had increased the cash withdrawal limit from ATMs  to Rs 10,000 per day.

The bank, however, kept the weekly withdrawal limit at Rs. 24000 unchanged.

The RBI in a statement said: "Limits placed vide the circulars cited above on cash withdrawals from Current accounts/ Cash credit accounts/ Overdraft accounts stand withdrawn with immediate effect."

"The limits on Savings Bank accounts will continue for the present and are under consideration for withdrawal in the near future," it said.

The RBI said: "Limits vide the circulars cited above placed on cash withdrawals from ATMs stand withdrawn from February 01, 2017. However, banks may, at their discretion, have their own operating limits as was the case before November 8, 2016, subject to 2 (ii) above."

In the statement, the RBI said banks are urged to encourage their constituents to sustain the movement towards digitisation of payments and switching over of payments from cash mode to non-cash mode.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.