ATM Withdrawal Limit Raised To ₹4,500; Withdrawal Limit From Bank Unchanged

Limits of withdrawal from banks remain unchanged, i.e., ₹24,000.

Reserve Bank of India has raised the withdrawal limits from ATMs from ₹2,500 to ₹4,500. It also directed the banks that the disbursals should predominantly be in the denomination of ₹500.

The circular, which was reportedly issued during Friday midnight, read: The daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 01, 2017,  from the existing ₹2,500/- to ₹4,500/- per day per card. There is no change in weekly withdrawal limits. Such disbursals should predominantly be in the denomination of ₹500.”

The banks will also continue to allow withdrawals of deposits made in current legal tender notes beyond the current limits. However, limits of withdrawal from banks remain unchanged, i.e., ₹24,000. The ATMs withdrawal limit was ₹2,000, when the demonetisation was announced, and it was later raised to ₹2,500.

Banks told to deposit demonetised notes in RBI offices today itself

By yet another circular, the RBI has directed all bank branches (other than those of DCCBs) that have accumulated SBNs as at the close of business on December 30, 2016, to deposit the same in any Issue Office of the Reserve Bank or a currency chest on December 31, 2016, itself.

Read the Circular here.

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