RBI removes all limits on Cash Withdrawal from Savings Banks Accounts

The Reserve Bank of India (RBI) has removed all limits on cash withdrawal from savings bank account imposed on November 8, 2016 after the demonetisation drive. Earlier, RBI had removed all curbs on branch withdrawals from current account, cash credit and overdraft accounts on January 30, 2017 and limits placed on daily cash withdrawals from ATMs from February 1, 2017. Last month, the cash withdrawal limit from savings bank accounts was increased from Rs 24,000 to Rs 50,000 per week by the RBI. In February 2017, RBI also had increaded the cash withdrawal limit from savings bank accounts from Rs 24,000 to Rs 50,000 per week.

Month: Current Affairs - March, 2017