Mumbai: Following expiry of the deadline to deposit demonetised currency in banks, the RBI on Friday relaxed the daily ATM withdrawal limit to Rs 4,500 from the earlier cap of Rs 2,500, with this facility, to be effective from January 1, coming as a new year gift to citizens.

“On a review of the position, the daily limit of withdrawal from ATMs has been increased with effect from January 1, 2017, from the existing Rs 2,500 to Rs 4,500 per day per card,” the Reserve Bank of India said in a notification issued late on Friday.

The RBI further said “there is no change in weekly withdrawal limits”, which remains at Rs 24,000.

Also Read: RBI notifies closure of deposit and exchange of old notes

The central bank also asked banks to ensure that disbursals on ATMs should predominantly be in the denomination of Rs 500.

As per data released by the RBI on December 21, it has supplied currency amounting to Rs 5.92 lakh crore till December 19, as against the Rs 15.4 lakh crore pulled out of the system through the demonetisation of high-value currency announced on November 8.

 

 

One response to “RBI relaxes ATM daily withdrawal limit to Rs 4,500 from Rs 2,500”

  1. Will NAMO Bhakths explain/clarify whether this move shall generate employment to two crores youths per year as promised by NAMO, will it helps to construct thirty lac houses per year to poor Indians, will direct investment of Foreign funds flow in India like water falls, Will this move bring down essential commodities price rise, will this reduce inflation, will value of rupee shall fall against american dollar in international market, will price rise of petroleum shall be proportioned to rate of crude oil in international market. Why saffronised party leaders were allowed to spent lavishly for the marriage of their family members, while common men was forced to withdraw only two and half lac of his hard earned money for his/her’s sons/daughters marriage?

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