RBI lifts curbs on withdrawal of money from ATMs

Monday, January 30, 2017

The Reserve Bank of India today on Monday lifted the curbs imposed on withdrawal of money from ATMs in current accounts after demonetization of Rs.500 and Rs.1,000 old currency notes.

However, the weekly limit of Rs.24,000 on Savings Bank accounts will continue. The RBI said that it will consider removal of cap on the withdrawal of money from ATMs in Savings Bank accounts shortly.

It may be recalled that the RBI has relaxed curbs on cash withdrawals on January 17 allowing the customers to withdraw money Rs.10,000 per day with a cap of Rs.24,000 per week. For current account holders, the limit has hiked from Rs.50,000 to Rs.1 lakh.

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