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RBI hikes ATM withdrawal limit to Rs 10,000
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SME Times News Bureau | 17 Jan, 2017
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.
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