Cash Withdrawal limit from ATMs : Finally after Two & Half Months the Reserve Bank of India RBI has extended the with drawal limit from 4500 to 10000 per day per card. Earlier it was Rs 4500 and before it was Rs.2000.The Reserve Bank of India has also doubled up the limit for Current Accounts weekly Withdrawals from Rs. 50000 to Rs. 1 Lakh. This latest RBI move will ease the situation for traders too.
RBI Raises Daily ATM Withdrawal Limit To Rs.10000
In a notification, the RBI said, “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).”
On November 8th 2016 Prime Minister Narendra Modi announced that use of all Rs.500 and Rs.1,000 would would be invalid after midnight of that day and released new Rs.500 and Rs.2,000 banknotes in place of old notes.Soon after the announcement, long queues were seen outside banks and ATM’s as people lined up to withdraw cash, deposit the old notes or exchange them for the new Rs 2,000 notes And 500 notes.Many People faced problems due to demonetization .
Earlier the cash withdrawal limit at the ATM’s was Rs. 2500. From January 1st it became Rs. 4,500. Now the present limit was increased up to Rs. 10000 per day. After the demonetization, there were cash withdrawal limits at several ATM’s across the country.There was limit imposed on cash withdrawals at banks too.
Hence After 50 days of demonetization announcement the Reserve Bank of India has raised or extended the daily with drawl limit from ATM’s to 10000 per card per day per person .Mean While the weekly withdrawal limit of Rs.24000 through cheque remains unchanged @ any branch of the banks.Also the Current A/C Holders can withdraw from Rs 50000 to 1 lakh Per Week.
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