Cash withdrawal limits from banks removed
Keeping up with the pace of re-monetisation, Reserve Bank of India has lifted all the limitations th...
Keeping up with the pace of re-monetisation, Reserve Bank of India has lifted all the limitations that were placed on cash withdrawals that were placed since November 8th last year. This means the state of pre-demonetisation in the banks is restored.
The central bank imposed restrictions on withdrawals from bank accounts in the wake of demonetisation of Rs 500 and Rs 1,000 notes on November 8. However RBI relaxed these restrictions gradually. The central bank has kept pace with the re-monetisation process by gradually relaxing the withdrawal limits. On January 30, RBI had ended all curbs on withdrawals from current accounts, cash credit accounts and overdraft accounts. Now with the removal of all the restrictions it is clear that re-monetisation exercise is successful.
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