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 Limits on cash withdrawals from current accounts/cash credit accounts/overdraft accounts stand withdrawn with immediate effect.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 Reports Circulation Of ‘Cash’ Doubled After Demonetisation

RBI Survey Shows Citizens Are Pessimistic Across All Economic Parameters Of The Current Government

GST To Be Effective From July 1, Know The Difference Between The UPA’s 2011 GST And The Current Bill

Know About The Current Trends In The Five State Elections Results

Bengaluru Airport

Bengaluru Airport Will Be Closed For 6 Hours Every Day Between February 19 And April 30

Cash Exchange

Cash Exchange Limit Set To Rs 2,000 And Other New measures To Be Implemented From Tomorrow

Latest on The Logical Indian

News

Indian Govt Proposed Reliance Name For Rafale Deal, We Didn’t Have A Say In This: Ex-French President

News

Journalist Arrested For Satire On Konark Temple, Odisha Govt Passes Privilege Motion Demanding Action

Get Inspired

Rats Sniff Out Landmines And Save Thousands Of Lives In Africa & Asia, Also Detect Tuberculosis

News

WB: 2 Youths Died As Police Allegedly Open Fired At Students Protesting Urdu Teachers’ Recruitment

My Story

My Story: “My Constitution Allows Me To Carry A Kirpan But Why Am I Still Questioned Everytime?”

Get Inspired

Pune: Hindus, Muslims Come Together To Hold Ganesh Chaturthi & Muharram Proceedings In Same Pandal

x

Stories that deserve attention, delivered to your inbox!

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