SBI Revises Ceiling For Cash Withdrawal At Non-Home Branches, Details Inside

A home branch is a location where a customer's savings or salary account is handled. Non-home branches are the banking services accessible to account holders or customers at branches other than their home branch. If you make a cash transaction, such as a deposit or withdrawal, in a non-home branch, you will be charged a fee. In response to the current phase of the coronavirus epidemic, the State Bank of India (SBI) has raised the limit for cash withdrawals by customers at non-home branches. As a result, the bank announced on Saturday through Twitter that "To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form".

The largest lender of India has increased cash withdrawals via cheque to Rs 1 lakh per day. The amount of cash that can be withdrawn by self using a withdrawal form and a Savings Bank passbook has been raised to Rs 25,000 per day. Furthermore, third-party cash withdrawals have been limited to Rs 50,000 per month by cheque only. The SBI clearly said that no cash payments to third parties via withdrawal forms will be permitted, and that the third party's KYC (Know Your Customer) must be given to the bank. The SBI further stated that the new limits remain in effect until September 30, 2021.