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

The Logical Indian

January 30th, 2017 / 6:23 PM

ATM

Source: 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 Limits on cash withdrawals from current accounts/cash credit accounts/overdraft accounts stand withdrawn with immediate effect.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.

Contributors

Edited by :

Share your thoughts..

Related Stories

RBI Clarifies It Is Mandatory For Bank Accounts To Be Linked With Aadhaar Under Money Laundering Act

You Can Open SBI Basic Savings Account To Avoid Penalty For Not Maintaining Minimum Balance

RBI Introduces ‘Zero Liability’ & ‘Limited Liability’ For Bank Customers For Any Card Or Online Fraud

SBI Service Charge

SBI To Introduce ATM Withdrawals Via Mobile Wallet From June 1; Rs 25 Service Charge On Each Transaction

SBI Charges

SBI Will Charge You For Low Balance In Account; Know About The Other Changes

Free Transactions

HDFC, ICICI, Axis Banks Are Charging Rs 150 After 4 Free Transactions From This Month

Latest on The Logical Indian

My Story

My Story: I Saw A Man Lying In A Pool Of Blood Surrounded By On-Lookers & I Decided To Do Something About It

My Story

My Story: I Was In A Shared Cab When A Little Girl Asked Why The Muslim Man Is Wearing A Cap

Opinion

The Closed Gates Of Sabarimala

Get Inspired

TN: Schoolgirls Collect And Send 20,000 Plastic Wrappers Back To Their Respective Manufacturers

News

UP: After Meeting The Forest Minister, Two Adivasi Women Fighting For Forest Rights Gone Untraceable

Sponsored

Today’s Youth, Leaders Of Tomorrow: ICICI Academy For Skills

x

Stories that deserve attention, delivered to your inbox!

Handpicked, newsworthy stories which deserve the attention of a rational generation.