Cash withdrawal limit relaxed

Cash withdrawal limit relaxed

On Monday, RBI issued a notification that current cash withdrawal limits is said to be at ATMs and banks to be relaxed on or after Nov 29th.  Notification stated that the new Rs 2000 and Rs 500 notes is said to be issued for withdrawals. 

An official statement stated that RBI has decided on consideration to allow withdrawals of deposits to be made in current legal tender notes after or on November 29th,2016 beyond the current limits available higher denominations bank notes of Rs 2,000 and Rs 500 are said to be issued for withdrawals. 

Overall Banks is said to receive Rs 8.45 lakh crore from demonetisation during November 10 and November 27. Citizens is said to withdraw Rs 2.17 lakh crore from accounts over the counter or through ATMs at the period where the amount is said to be exchanged from old notes to legal tender is Rs 33,950 crore. Amount deposited at banks is  Rs 8.11 lakh crore at the demonetization.