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

The Logical Indian

January 30th, 2017

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 Limits on cash withdrawals from current accounts/cash credit accounts/overdraft accounts stand withdrawn with immediate effect.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

Share your thoughts..

Propelled by

VOLVO

Make Your City Safe

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

News

PMO Proposes Change In Cadre (State) & Service Allocation Process Of UPSC Candidates

News

Gujarat: Five Arrested For Flogging A Rag Picker To Death After Video Surfaced

News

Kerala Nurse Sacrifices Life To Treat Nipah-Infected Patients, Govt Announces Compensation

News

Rs 127 Cr GST Fraud Unearthed In Mumbai, Two Accused Sent To 15 Days Judicial Custody

News

Sterlite Protest: Decades-Old Struggle Of Thoothukudi Against Vedanta’s Company

Awareness

India Ranks 145th Among 195 Countries In Healthcare Access, Quality: Lancet