In a relieving move, the Reserve Bank of India has decided on Monday that the ATM withdrawal from Rs. 4,500 per day to Rs. 10,000 per day with immediate effect. But there is no change in weekly limit and will remain Rs. 24,000.
The Central Bank in a statement said, “The limit on withdrawals from ATMs has been enhanced from the current limit of Rs. 4,500 to Rs. 10,000 per day per card. It will be operative within the existing overall weekly limit.”
The limit for the current account has been increased from Rs. 50,000 to Rs. 100,000 per week and also extends to cash credit accounts and overdraft.The RBI, on December 28, increased the withdrawal limit from Rs. 2,500 to Rs. 4,500 which was implemented from January 1, 2017.
The cash woes of individuals have increased over time in the last three months because of Demonetisation. This sudden move resulted in a shortage of cash across ATM’s which is continuing till date.
