RBI Increases Daily Cash withdrawal (ATM) Limit from Rs. 4,500 to Rs. 10,000; weekly limit for Current Accounts increased from Rs. 50,000 to Rs. 100,000 whereas no change for SB A/cs (Rs. 24,000)
RBI has increased daily ATM cash withdrawal limit from SB A/cs from existing ₹ 4500/- to ₹ 10000/- per day/ card w.e.f. 16 Jan. 2017. However increased limit is meant for daily withdrawals only, as the weekly limit of Rs. 24,000 remains unchanged. Also, weekly cash withdrawal limit from current accounts has been increased from Rs. 50,000 to Rs. 1,00,000.
1. Please refer to our circulars DCM (Plg) No. 1274, 1317, 1437 and 2142/10.27.00/2016-17 dated November 14, 21 and 28 and December 30, 2016, respectively, on the above subject.
2. On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same, with immediate effect as under:
(i) The limit on withdrawals from ATMs has been enhanced from the current limit of ₹ 4,500/- to ₹ 10,000/- per day per card (It will be operative within the existing overall weekly limit).
(ii) The limit on withdrawal from current accounts has been enhanced from the current limit of ₹ 50,000/- per week to ₹ 1,00,000/- per week and it extends to overdraft and cash credit accounts also.
3. There are no changes in the other conditions. The relaxations as provided in our circular dated November 28, 2016 will continue.