The Reserve Bank of India (RBI) on Monday enhanced the money withdrawal limit from ATM from Rs 4,500 to Rs 10,000. Apart from this relaxation in money withdrawal limits, the central bank has also enhanced the withdrawal limit from current bank accounts to Rs 1 lakh per week from Rs 50,000 per week.
“On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same, with immediate effect…,” the central bank said in a notification.
On January 1, the central bank had enhanced daily withdrawal limit from ATMs to Rs 4,500 from Rs 2,500. “The limit on withdrawals from ATMs has been enhanced from the current limit of Rs 4,500 to Rs 10,000 per day per card,” RBI said.
In a press release, the bank has said that the weekly withdrawal limits would remain unchanged. The earlier notification of RBI said that a person could be able to withdraw money Rs 24,000 per card in a week.
After the demonetisation of higher currency, which was announced on 8 November 2016, RBI had put limits on the money withdrawal from the bank accounts to prevent the situation of cash crunch in the country.