No Limit On Cash Withdrawals From Savings Bank Accounts

Posted on:14 Mar 2017 09:18:10
No Limit On Cash Withdrawals From Savings Bank Accounts
14 March 2017 Current Affairs: All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month.

In a two-stage process, the weekly withdrawal limit per account had been raised to Rs. 50,000, from Rs. 24,000, with effect from February 20, and all limits on ATM withdrawals were slated to cease from March 13.

The announcement had been made by RBI Deputy Governor R Gandhi following the fiscal year's last monetary policy review announcement by the central bank in February, when it kept its key interest rate unchanged at 6.25 per cent, saying it awaited data on the full impact of the government's demonetisation drive.

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