RBI raises ATM withdrawal limit to Rs 10,000 a day

NEW DELHI: In a welcome move, the Reserve Bank of India (RBI) on Monday decided to increase the cash withdrawal limit from ATMs to Rs 10,000 per day from the present Rs 4,500 with immediate effect.

However, there is no change in the weekly withdrawal limits, which stays at Rs 24,000.

"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. It will be operative within the existing overall weekly limit," the central bank said in a statement.

The limit on withdrawal from current accounts has been enhanced from the current limit of Rs 50,000 per week to Rs 1,00,000 per week. This also extends to overdraft and cash credit accounts.

On December 28, the RBI had revised the cash withdrawal limit from Rs 2,500 to Rs 4,500+ , which came into force on January 1, 2017. The move had been hailed by cash-strapped people all over the country.

The RBI had imposed these limits in November after the government announced a ban on all high-value currency notes+ , and said it would replace them with new notes.
Long queues had been visible outside banks and ATMs following the demonetisation of Rs 500 and Rs 1,000 notes. Read more