ATM Cash withdrawal limit hiked to Rs 10,000 per day

Cash withdrawal limit from ATM hiked to Rs 10,000 per day, current account limit raised to Rs 1 lakh per week

Cash withdrawal limit from ATM hiked to Rs 10,000 per day, current account limit raised to Rs 1 lakh per week

In a major relief for the common man post the demonetisation move, the Reserve Bank of India on Monday raised the cash withdrawal limits from ATM to Rs 10,000 per days from the existing Rs 4,500.

The hike in withdrawal limit comes with immediate effect, the Reserve Bank of India said in a statement.

However, cash withdrawal through cheque for saving bank accounts have been retained at Rs 24,000 per week.

The RBI also hiked the cash withdrawal from current accounts to Rs 1 lakh per week from the existing Rs 50,000.

As per the RBI statement, 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).

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, the RBI further stated.

However, there are no changes in the other conditions with the Reserve Bank stating that the relaxations as provided in our circular dated November 28, 2016 will continue.

Following the demonetisation move announced by Prime Minister Narendra Modi on November 8, 2016, the RBI had limited the cash withdrawal from ATM at Rs 2,500 which was later hike to Rs 4,500 on New Year’s eve effective from January 1, 2017.

-January 16, 2017, New Delhi