No cash withdrawal limit from March 13: RBI
The Reserve Bank of India on Wednesday announced that the cash withdrawal limit on savings accounts will be scrapped from March 13 this year. Further, the current limit of withdrawal fixed at ?24,000 per week will be raised to ?50,000 per week from February 20, the RBI added. The limits on bank withdrawals were placed after demonetisation. nn
The Reserve Bank of India (RBI) today said that the weekly withdrawal limit for savings account will be raised to Rs 50,000 from February. The top bank added that limitations on cash withdrawal, which was put in place after November 8, 2016 notes ban, would be removed  completely from March 13. At present, the weekly withdrawal limit for savings account is Rs 24,000. On January 30, the RBI had ended all curbs on withdrawals from Current Accounts, Cash Credit Accounts and Overdraft Accounts.Following demonetisation of old Rs 500/1000 notes on November 8, limits had been imposed on withdrawal of cash from banks as well as ATMs. The Reserve Bank cash withdrawal limit from ATMs was increased to Rs 4,500 per day from Rs 2,500 from January 1. 