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Limits Enhanced For Cash Deposits And Withdrawal


The weekly limit of Rs.20,000 for cash withdrawal from Bank accounts has been increased to Rs 24,000 and the limit of Rs 10,000 per day has been removed, according to a government release.


Limits Enhanced For Cash Deposits And Withdrawal
Banks have been advised to increase the Cash Withdrawal limit at ATMs from the existing Rs 2000 to Rs 2500 per day in the recalibrated ATMs, other ATMs will continue to dispense Rs 50 and Rs 100 notes until they are recalibrated.

Instructions have also been given to the Banks and Post Offices to ensure proper distribution of all denomination notes. They have also been especially advised to ensure the availability and distribution of small denomination notes.

"Banks have been advised to make arrangements for separate queues for Senior citizens and Divyang persons. Separate queues will also be arranged for exchange of cash to cash and transactions against Bank accounts.

Banks have been advised to increase the Business Correspondents limit of dispensing cash to Rs.2500/- for withdrawal from bank accounts," the government release states.

They have been advised to increase the issuance and use of mobile wallets and debit/credit cards as also to provide them to those customers and establishments not having access to these non-cash means of payment.

Read more about: cash
Story first published: Monday, November 14, 2016, 9:08 [IST]
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