No Cashlimit for Withdrawl from ATMs
RBI have removed limit on ATM withdrawals from Feburary 1, 2017. All withdrawals from current, cash credit and overdraft accounts would be lifted said RBI, while Rs 24,000 weekly cap on saving account will retain.
The restriction for daily withdrawal was put by Government on November 8 last year after demonetization move, triggering a cash crunch. After that there have been changes made by RBI over withdrawal limits. Now with ease of cash supply the limit have been removed.
Further, banks are urged to encourage their constituents to sustain the movement towards digitization of payments and switching over of payments from cash mode to non-cash mode.
