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No Cash Withdrawal Limits From March 13th, Says RBI

Ashok KM
8 Feb 2017 11:43 AM GMT
No Cash Withdrawal Limits From March 13th, Says RBI
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From February 20, the weekly withdrawal limit for savings accounts will be raised to Rs 50,000.


The Reserve Bank of India has today announced that there will be no limit on cash withdrawal from savings account, from March 13th 2017.

The Apex Bank has also announced that, starting from February 20, the weekly withdrawal limit for savings accounts will be raised to Rs 50,000. Present limit is Rs. 24,000 per week.

“The limits on cash withdrawal from savings bank accounts continue to be in place. In line with the pace of remonetisation, it has now been decided to remove these limits in two stages," RBI Deputy Governor R Gandhi said,

On January 30th, RBI had withdrawn the limits on cash withdrawals from Current accounts/ Cash credit accounts/ Overdraft account and ATMs.

This article has been made possible because of financial support from Independent and Public-Spirited Media Foundation.

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