No Cash Withdrawal Limit From Current Accounts From February 1, Announces RBI

Published : 30 Jan 2017 12:53 PM GMT
No Cash Withdrawal Limit From Current Accounts From February 1, Announces RBISource: RBI | Image Courtesy: Times Of India

The Reserve Bank of India (RBI) issued a circular declaring that there would be no withdrawal limits on ATM transactions from 1 February 2017.


The RBI stated that:

  1. Limits on cash withdrawals from current accounts/cash credit accounts/overdraft accounts stand withdrawn with immediate effect.
  2. The limits on Savings Bank accounts will continue for now.
  3. However, banks may have their own operating limits as was the case before November 8, 2016 – which was the date the note demonetisation took effect.
  4. The RBI encouraged banks to push for digitisation of payments.
Suggest a correction

    Help Us Correct

    To err is human, to help correct is humane
    Identified a factual or typographical error in this story? Kindly use this form to alert our editors
  • *
  • *
  • *
  • Form Submitted Successfully
    Error in submitting form. Try again later
Next Story