RBI removes cash withdrawal limits from ATMs

Photo related to withdrawal of cash money from ATM.

New Delhi: The Reserve Bank of India (RBI) today announced that it will end all limitations on withdrawals of money from ATMs and Current Accounts from February 1st and said that it will review withdrawals from Saving Accounts soon.

According to RBI notification, the limits on withdrawals from ATMs will also go from Wednesday i.e from 1st of February.

On other hand, the curb on Saving Banks accounts across the country will remain on.

Now one can make transactions of up to limit 24000 from ATMs in one day from his/her Saving Account or Current Account but the apex bank has still enforced limitation on withdrawal of money from Saving account up to 24000 from ATMS in one week.

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This means that a saving account holder can now take out 24000 thousand rupees from his her account from ATMs in one day or it can be taken out in one week.

The limits were placed after the Center government announced currency demonetization on the November 8th to curb corruption and black money by putting ban on Rs 1000 and Rs 500 notes.

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