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Saturday, 26 November 2016

Bank Clients can keep on withdrawing up to Rs 24,000/week

Public can keep on withdrawing up to Rs 24,000 every week from their bank accounts, including withdrawals from ATM, the Reserve Bank said today.

"The banks are, thusly, prompted that they may keep on allowing their current clients to take out money from their accounts up to Rs 24,000 every week, till further directions. As far as possible limit withdrawals from ATMs," RBI said in an announcement.

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Taking after cancelation of legal tender character of old Rs 500 and Rs 1000 currency notes from November 9, limitations were forced on money withdrawals from accounts and ATMs.

The central bank on November 13 raised the day by day withdrawal limit from ATMs to Rs 2,500 from Rs 2,000 prior.

The week after week limit of Rs 20000 for withdrawal from bank accounts was expanded to Rs 24,000.

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RBI today permitted trade of banned 500 and 1,000 rupee notes for new currency at its counters even after the facility was withdrawn from all banks.

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