Weekly limit of withdrawal from Savings account Rs 50,000 now
February 20, 2017
Ahmedabad: The weekly limit on withdrawal of cash from savings bank accounts is now Rs 50,000 from today. It was Rs 24,000 earlier. The provision of limit will be removed from March 13.
“Effective February 20, 2017, the limits from cash withdrawal from savings bank accounts will be enhanced to Rs 50,000 per week from the current limit of Rs 24,000 per week (and) effective March 13, 2017, there will be no limits prescribed by RBI on cash withdrawal from savings bank accounts.”
The Government and RBI had imposed limits on withdrawal of money from ATMs and bank branches in view of the currency shortage following demonetisation.
These limits, however, are being gradually eased, with RBI pumping in new notes of Rs 500 and Rs 2,000.
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