Reserve Bank of India has raised the daily cash withdrawal limit to Rs 10,000 per day per card from ATM. Earlier the daily cash withdrawal limit was Rs.4500.
It will be operative within the existing overall weekly limit. There is no change in the limit of cash withdrawal of Rs 24000 per week from saving accounts.
RBI also raised weekly cash withdrawal limit from Rs 50,000 to Rs 100,000 for current account. It extends to overdraft and cash credit accounts also.
Background:
After demonetisation announcement by the Prime Minister Narendra Modi on November 8, 2016, the bank had restricted the withdrawal of cash to Rs 2000 from ATMs which was increased to Rs 2500 later.
RBI again enhanced the limit to Rs 4500 per day per day after reviewing the cash availability situation.
The central bank had put a cap on weekly withdrawal too which is Rs 24000 per week in case of saving account whereas it was Rs 50,000 per week in case of current account.