RBI raises ATM withdrawal limit to Rs 4,500 per day

New Delhi: In a relief to public, the Reserve Bank of India on Friday increased the ATM cash withdrawal limit from Rs 2,500 to Rs 4,500 a day from January 1.

RBI, however, said that weekly withdrawal limit would remain unchanged.

What Reserve Bank of India’s statement read?

• On a review of the position, the daily limit of withdrawal from ATMs has been increased with effect from January 01, 2017, from the existing Rs 2,500 to Rs 4,500 per day per card.
• There is no change in weekly withdrawal limits.
• Such disbursals should predominantly be in the denomination of Rs 500.

Earlier, on November 8, the government of India scrapped Rs 500 and Rs 1,000 notes.