RBI to withdrawal limits by February-end
Restrictions are imposed to withdraw money from banks after demonetisation. Restrictions still continue to withdraw cash from current account and savings. Restrictions are imposed due to the short supply of cash. Bank official stated that restrictions are completely withdraw by February last week.
Limit in cash withdraw from ATMs was increased to Rs 10000 but weekly limit Rs 24000 from banks withdrawal yet to be changed. A current account holders is said to withdraw cash up to Rs one Lakhs per week. Maharashtra Bank executive director RK Gupta when speaking to media said that restrictions on RBI withdrawal to be lifted by end February or first half of March.
According to SBI’s latest report at the end of February. 78-88 percent of the currency to be back at normalcy and system that return in next two months. Bank officials mentioned that normalcy is said to return back in one or two weeks. Senior public sector bank officials stated that RBI are been progressively
RBI earlier increased daily withdrawal limit of ATMs from from ATMs to Rs 4,500 from Rs 2,500 effective January 1st a day after 50 day demonetisation period ended.