The Reserve Bank of India on Monday increased the daily withdrawal limit from ATMs to Rs 10,000 from the existing cap of Rs 4,500.
The Central bank also increased the current account withdrawal limit from Rs 50,000 to Rs 1 lakh per week.
Monday’s decision comes after the RBI relaxed ATM withdrawal limits to Rs 4500 per day on January 1, 2017 from the initial limit of Rs 2500, after the deadline for citizens to deposit demonetised currency in banks had passed.
The RBI’s Chief General Manager P Vijaya Kumar’s notification addressed to the Chairmans, Managing Directors and CEOs of all public and private sector banks reads as follows:
“Please refer to our circulars DCM (Plg) No. 1274, 1317, 1437 and 2142/10.
27.00/2016-17 dated November 14, 21 and 28 and December 30, 2016, respectively on the above subject. 2. On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same, with immediate effect as under:
(i) The limit on withdrawals from ATMs has been enhanced from the current limit of ₹ 4,500/- to ₹ 10,000/- per day per card (It will be operative within the existing overall weekly limit).
(ii) The limit on withdrawal from Current Accounts has been enhanced from the current limit of ₹ 50,000/- per week to ₹ 1,00,000/- per week and it extends to overdraft and cash credit accounts also.
3. There are no changes in the other conditions. The relaxations as provided in our circular dated November 28, 2016 will continue.
However, this means the weekly cap of Rs 24,000 (Savings Account) every week continues to be valid.