In order to address the cash crunch post the demonetisation, RBI has enhanced the limit on ATM withdrawals from 4,500/- to Rs.10,000 per day per card. The limit on withdrawal from current account has also been increased to Rs. Rs.1,00,000/- per week.
The notification issued by the central bank states that the enhanced limit will be operative within the overall weekly cap of Rs 24,000. The limit of withdrawal from current account which has bee raised from Rs.50,000/- to Rs.1,00,000/- per week extends to overdraft and cash credit accounts also. The notification further clarified that all the conditions imposed post note band will be remaining intact.
The notification reads, ‘On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same, with immediate effect’.