ATM withdrawl limit increased and more update

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The daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 01, 2017, from the existing ₹ 2500/- to ₹ 4500/- per day per card. There is no change in weekly withdrawal limits. Such disbursal’s should predominantly be in the denomination of ₹ 500.

Friday was the last day of the 50 day window provided to deposit the old currency in Banks. People can still deposit the old currency at RBI counters till 31 March 2017 giving valid reason for the delay.

With the closure of the facility of exchange of SBNs as at the close of business on December 30, 2016, all banks should report information on collection of SBNs on December 30, 2016.

Prime Minister Narendra Modi will address the nation today on New Year Eve and lot is rumored about it, as last time when Prime Minister addressed the nation he made the surprise announcement of Demonetization and making Rs 500 and Rs 1000 as invalid. so stay tuned what is in store this time.

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