SME Times is powered by   
Search News
Just in:   • Fuel prices continue to rise, Modi to meet oil company heads  • Sugar mills worry over surplus, talk of 'industry collapse'  • UK to see 3 years of low growth: Forecaster  • Sept wholesale inflation spikes to 5.13 pc  • RCEP Inter-sessional ministerial meeting held in Singapore 
Last updated: 21 Feb, 2017  

Rupee.9.Thmb.jpg Cash withdrawal weekly limit goes up to Rs 50,000

indian.rupee.jpg
   Top Stories
» Sept wholesale inflation spikes to 5.13 pc
» RCEP Inter-sessional ministerial meeting held in Singapore
» 46th IHGF-Delhi Fair Autumn-2018 kicks off
» India International Silk Fair -2018 to begin Tuesday
» Exports sector facing multiple challenges: FIEO
SME Times News Bureau | 21 Feb, 2017
The first stage of the two-stage lifting of limits on cash withdrawals from savings bank accounts became effective on Monday, with the weekly limit rising to Rs 50,000 per account from Rs 24,000.

Cash withdrawal limits are slated to cease from March 13.

Reserve Bank of India (RBI) Deputy Governor R. Gandhi announced the lifting of limits on February 8.

On January 30, the RBI ended all curbs on withdrawals from Current Accounts, Cash Credit Accounts and Overdraft Accounts.

The limits were placed following the November 8 demonetisation of Rs 1,000 and Rs 500 currency notes. The upper limit for withdrawals from ATMs was Rs 2,500 initially and was later raised to Rs 4,500.

In January, the RBI hiked the daily ATM withdrawal limit to Rs 10,000 and doubled the weekly Current Account withdrawal limit to Rs 1 lakh.

The upper limit for weekly withdrawal from bank accounts was raised to Rs 24,000 from Rs 20,000 in November.

The lifting of ATM withdrawal limits from March 13 will represent a coming full circle for these machines.

News agency reporter who surveyed ATMs in the national capital last week found that the situation had only marginally improved from what it was in the immediate aftermath of the note ban. Most ATMs remain bone dry.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 16 Oct, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(10)
» Awareness drives on MSME benefits(2)
» Ashok Leyland to launch 13-seater passenger vehicle, LCV(1)
» Letter of Credit - a safe and secure payment mode?(1)
» SEZ policy review committee holds final meeting Friday(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter