RBI hikes daily withdrawal limit to Rs.10,000 a day with a cap of Rs.24,000 per week

Monday, January 16, 2017

The Reserve Bank of India (RBI) on Monday has raised the daily cash withdrawal limit from ATMs to Rs.10,000 from the existing Rs.4,500 with immediate effect without changing the weekly limit of Rs.24,000.

The RBI also hiked the limit of withdrawals from Current Account to Rs.1 lakh from the existing Rs.50,000 per week. In a notification, the RBI said that it has decided after a review of limits.

It may be recalled that the limits on cash withdrawals following demonetisaton of old Rs.500 and Rs.1,000 notes on November 8, 2016.

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