Cash withdrawal limit from ATMs increased to Rs 4,500 per day
In a major relief for the common man, Reserve Bank of India (RBI) increased the daily limit of ATM ...
In a major relief for the common man, Reserve Bank of India (RBI) increased the daily limit of ATM withdrawal to Rs 4500 from current Rs 2500 with effective from January 1, 2017.
RBI in a notification issued has said that there has been no change in the weekly withdrawal limit, which stands at Rs 24,000, including from ATM, for individuals and Rs 50,000 in case of small traders. It further said such disbursals will predominantly be in the denomination of Rs 500.
Following demonetisation of old Rs 500/1000 notes limits had been imposed on withdrawal of cash from banks as well as ATMs. Earlier in the day, the RBI had permitted White Label ATM Operators (WLAOs) to source cash from retail outlets. Most of the White Label ATMs are running dry since demonetisation as the operators were facing difficulties in sourcing cash from their sponsor bank (s).
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