Public can continue to withdraw up to Rs 24,000 per week from bank accounts, ATMs: RBI
Public can continue to withdraw up to Rs 24,000 per week from their bank accounts, including withdrawals from ATM, the Reserve Bank of India (RBI) said on Friday.
"The banks are, hereby, advised that they may continue to allow their existing customers to withdraw cash from their accounts up to Rs 24,000 per week, till further instructions. The said limit include withdrawals from ATMs," it said in a notification.
Following cancellation of legal tender character of old Rs 500 and Rs 1,000 currency notes from November 9, restrictions were imposed on cash withdrawals from accounts and ATMs.
The central bank on November 13 raised the daily withdrawal limit from ATMs to Rs 2,500 from Rs 2,000 earlier. The weekly limit of Rs 20,000 for withdrawal from bank accounts was increased to Rs 24,000.
RBI on Friday allowed exchange of banned Rs 500 and Rs 1,000 notes for new currency at its counters even after the facility was withdrawn from all banks.