RBI allows to withdraw 50,000 limit from Saving bank accounts from 20-02-2017

From 20th February, 2017 onwards the weekly limit on withdrawal of cash from savings bank accounts will be increased to Rs 50,000, from the current Rs 24,000, and the 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 demonetization.

These limits, however, are being gradually eased, with RBI pumping in new notes of Rs 500 and Rs 2,000.

Telangana

Tuday