Demonetisation: Cash withdrawal limit increased to Rs 10,000
Authored By Wion Web Desk
Published: Jan 15, 2017, 19:43 IST | Updated: Jan 15, 2017, 19:43 IST
A majority of the ATMs which can be shut down will be in the non-urban areas
Story highlights
The Reserve Bank of India hiked the daily withdrawal limit from Rs 4,500 to Rs 10,000, but the weekly limit remains at Rs 24,000 per card
The Reserve Bank of India (RBI) increased the daily cash withdrawal limit from Rs 4,500 to Rs 10,000 ($146.84) from ATMs on Monday, effective immediately.
The central bank also increased the withdrawal limitfrom current accounts to Rs 100,000 per week from Rs 50,000, and will also include overdraft as well as cash credit accounts. However, the overall weekly withdrawal limit of Rs 24,000per card will remain the same.
After demonetisation, the withdrawal limit had been set at Rs 2,500 per day and percard, and was increased to Rs 4,500 on January 1.
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According to analysts, the withdrawal limits are likely to remain in place until the RBI is able to supply a sufficient amount of notes.
(WION with inputs from Reuters)