Cash withdrawal limit from ATMs will be increased to Rs 4,500 from Rs 2,500, effective January 1, the Reserve Bank of India (RBI) said on Friday.
No change in weekly withdrawal limits, disbursals should predominantly be in denomination of Rs 500, said RBI said.
HERE IS THE FULL TEXT OF THE STATEMENT
DCM (Plg) No. 2142/10.27.00/2016-17
December 30, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/
Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks
District central Cooperative Banks
Cash withdrawal from ATMs – Enhancement of daily limits
Please refer to our circular DCM (Plg) No. 1424/10.27.00/2016-17 dated November 25, 2016 on “Withdrawal of cash from bank deposit account – Relaxation”.
2. On a review of the position, the daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 01, 2017, from the existing Rs 2500/- to Rs 4500/- per day per card. There is no change in weekly withdrawal limits.Such disbursals should predominantly be in the denomination of Rs 500.
3. The relaxation of withdrawal limits as enabled by our circular DCM (Plg) No. 1437/10.27.00/2016-17 dated November 28, 2016 remains unchanged.
4. Please acknowledge receipt.
(P Vijaya Kumar)
Chief General Manager