No limit for cash withdrawal in ATMs

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No maximum limit for cash withdrawal from ATMs

No limit for cash withdrawal in ATMs. The RBI has withdrawn the limits on the maximum withdrawal amount in ATMs all over India. This will be effective from 1st February 2017. The central government of India announced that the old Rs. 500/- and Rs. 1000/- notes as invalid from 8th November 2016.

In this scenario, the RBI has declared that the current restriction for maxminum withdrawal of Rs. 10000/- is being removed, effective from 1st February 2017.  However, the restriction on bank savings accounts holders will continue.

Further, the Reserve Bank of India has suggested that indiviual banks can take a decision on the maximum limit for all account holders. However, the restrictions imposed on the current account holder are being withdrawn immediately.

 

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