The Reserve Bank has given a new year gift to everyone. In a new announcement RBI said, "cash withdrawal limit from ATMs will be increased to Rs 4,500 per day from the current Rs 2,500 from January 1."
However, the weekly withdrawal limit stays the same Rs 24,000, including from ATM.
"On a review of the position, the daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 1, 2017, from the existing Rs 2,500 to Rs 4,500 per day per card," the central bank said in a notification.
The Reserve Bank's notification further stated "there is no change in weekly withdrawal limits" and such disbursals should predominantly be in the denomination of Rs 500".
BY M. DIVYA SRI
