New Delhi, Jan 16 (IANS) The RBI on Monday hiked the daily ATM withdrawal limit from Rs 4,500 to Rs 10,000 and doubled the weekly Current Account withdrawal limit to Rs 1 lakh.
The withdrawals from ATMs will be operative within the existing overall weekly limit of Rs 24,000, a Reserve Bank of India communique said.
"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.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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