Wednesday, 8 February 2017

Cash withdrawal limit to be Rs 50,000 from February 20; no limit from March 13

Ripples Advisory Private Limited, Indore @9303093093

The limits on savings bank cash withdrawals post-demonetisation are to be withdrawn in two stages, the Reserve Bank of India announced on Wednesday, with the limit slated to go up to Rs,50,000 per account from February 20 and to cease from March 13. The announcement was made by RBI Deputy Governor R. Gandhi following the fiscal's last monetary policy review announcement by the central bank at which it kept its key interest rate unchanged at 6.25 per cent, saying it awaited data on the full impact of the government's demonetisation drive three months ago. On January 30, the RBI had ended all curbs on withdrawals from Current Accounts, Cash Credit Accounts and Overdraft Accounts.

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