RBI hikes ATM withdrawal limit to Rs10,000-The Total Investment & Insurance Solutions

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16 January 2017

The RBI on Monday hiked the daily ATM withdrawal limit from Rs 4,500 to Rs 10,000 and doubled the weekly Current Account withdrawal limit to Rs 1 lakh. The Total Investment & Insurance Solutions

The withdrawals from ATMs will be operative within the existing overall weekly limit of Rs 24,000, a Reserve Bank of India communique said. The Total Investment & Insurance Solutions

"On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same with immediate effect," the RBI said. The Total Investment & Insurance Solutions

On December 31, the RBI relaxed the daily ATM withdrawal limit to Rs 4,500 from the earlier cap of Rs 2,500. The Total Investment & Insurance Solutions

The enhanced Current Account withdrawal has been extended to overdraft and cash credit accounts, the RBI said. The Total Investment & Insurance Solutions

The caps followed the November 8 government decision to demonetise the Rs 500 and Rs 1,000 notes, a decision which triggered widespread cash crunch in the country.The Total Investment & Insurance Solutions