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RBI increases cash withdrawal limit for savings account holders

After the note ban on November 8 last, the RBI had capped withdrawal limits on ATMs and bank branches. Though, it had raised limits from Rs 2,000 a day to Rs 4,500 a day to Rs 10,000 a day while maintaining the overall weekly ceiling of Rs 24,000

Arnima Dwivedi

Arnima DwivediBy Arnima Dwivedi

Published on 20 Feb 2017 5:58 AM GMT

RBI increases cash withdrawal limit for savings account holders
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RBI increases cash withdrawal limit for savings account holders
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New Delhi: The Reserve Bank of India has increased the cash withdrawal limit of savings accounts holders, in effect from Monday. The savings account holders will now be able to withdraw up to Rs 50,000 per week.

It could be recalled that an RBI notification, issued on January 30 last, had announced that from February 20 the cash withdrawal limit for savings accounts will be raised to Rs 50,000 from Rs 24,000 a week and the limits on cash withdrawals from savings bank account will be withdrawn completely from March 13.

It is worth mentioning that there is no limit on current account, till now,however, there is a cap of Rs 50,000 for farmers a week and Rs 2.5 lakh for marriage.

After the note ban on November 8 last, the RBI had capped withdrawal limits on ATMs and bank branches. Though, it had raised limits from Rs 2,000 a day to Rs 4,500 a day to Rs 10,000 a day while maintaining the overall weekly ceiling of Rs 24,000.

Arnima Dwivedi

Arnima Dwivedi

A journalist, presently working as a sub-editor with newstrack.com. I love exploring new genres of humans and humanity.

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