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RBI to soon lift weekly withdrawal limit

withdrawal

New Delhi: Reserve Bank of India (RBI) will soon take call on lifting weekly withdrawal limit from savings account said Shaktikanta Das, Economic Affairs Secretary.

All restrictions have been removed except on savings bank account of Rs 24,000 per week. The emphasis will be on providing lower denomination notes he added.

Earlier this week, RBI has announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts effective from February 1 but the weekly limit of Rs 24,000 on savings bank accounts will continue.

In the wake of demonetisation, RBI had put withdrawal limit Rs 2,000 per day from ATMs and Rs 10,000 per week. Customers holding current or overdraft or cash credit accounts were allowed to withdraw up to Rs 50,000 in a week.

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