Saturday, 26 November 2016

Bank customers can continue to withdraw up to Rs 24,000/week

Public can continue to withdraw up to Rs 24,000 per week from their bank accounts, including withdrawals from ATM, the Reserve Bank said today. "The banks are, hereby, advised that they may continue to allow their existing customers to withdraw cash from their accounts up to Rs 24,000 per week, till further instructions. The said limit include withdrawals from ATMs," it said in a notification. Following cancellation of legal tender character of old Rs 500 and Rs 1000 currency notes from November 9, restrictions were imposed on cash withdrawals from accounts and ATMs. 


The central bank on November 13 raised the daily withdrawal limit from ATMs to Rs 2,500 from Rs 2,000 earlier. The weekly limit of Rs 20000 for withdrawal from bank accounts was increased to Rs 24,000. RBI today allowed exchange of banned 500 and 1,000 rupee notes for new currency at its counters even after the facility was withdrawn from all banks.


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