30.1.17

No cash withdrawal limit at ATMs from February 1, announces RBI

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NEW DELHI: The Reserve Bank of India on Monday announced that the limits placed on cash withdrawals from ATMs stand withdrawn from February 1, 2017.

At present, the daily limit on cash withdrawals from ATMs is Rs 10,000.

The limits placed on cash withdrawals from current accounts/ cash credit accounts/ overdraft accounts also stand withdrawn with immediate effect, the RBI has said.

However, restrictions on withdrawal of Rs 24,000 a week from savings bank account will continue for now.   


The central bank has said that the banks may at their discretion have their own operating limits. 

When the government had announced demonetisation move on November 8 last year, it had capped the daily withdrawal limit to Rs 2000

Subsequently, this was raised to first Rs 2,500 and then to Rs 4,000. 

The move to demonetise Rs 500 and Rs 1000 notes had led to long queues at the banks as people struggled to get new currency notes. 

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