On Monday, Reserve Bank of India (RBI) increased the limit on cash withdrawal from ATMs from Rs. 4,500/day to Rs. 10,000/day per card. However, the weekly withdrawal limit has not been changed and it remains Rs. 24,000/week.
The withdrawal limit for current accounts has been also increased from Rs. 50,000 per week to Rs. 1 lakh per week. The same withdrawal limit has been extended to overdrafts and cash credit accounts as well.
Prior to this, the RBI had increased the daily cash withdrawal limit from Rs. 2,500 to Rs. 4,500 on 28th December. The limits on cash withdrawal were imposed on 8th November after the Government’s decision to declare 500 and 1000 rupee notes as illegal tender.