The latest news from India or I can say from Demonetisation is that the Government raise the ATM Cash Withdrawal limit from 1st January.
Yes, the Cash Withdrawal limit of ATM Increased to Rs 4500 per person per day from 1st January 2017 that is from tomorrow.
RBI issued a statement on Friday citing that from 1st January 2017, the daily withdrawal limit of ATMs would be increased from the current Rs 2, 500 rupees to Rs 4, 500. The bank also said that there would be no change in weekly withdrawal limits.
ATM Daily Cash Withdrawal Limit Increased To Rs 4500 Per Day From 1st January
The deadline to submit old 500- and 1,000-rupee notes declared abolished on November 8, ended on Friday. Starting January 1, you can pull out Rs. 4,500 per day per card at ATMs – the limit currently is Rs. 2,500.
However, the weekly limit per bank account remains unchanged at Rs. 24,000 as the government tries to replace the outlawed currency with new bills.
The official statement read: 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 ₹ 2500/- to ₹ 4500/- per day per card. There is no change in weekly withdrawal limits.Such disbursals should predominantly be in the denomination of ₹ 500.
Earlier this week, banks had reportedly asked the government to extend the curbs on cash withdrawals beyond December 30 until an adequate quantity of new currency is injected, according to bankers and officials in the Finance Ministry.
Bankers reportedly told the Finance Ministry that lifting the curbs immediately after this week could disrupt branch operations as a large number of people could turn up to withdraw cash.
So may this is the new year gift for all the people’s. Sta tuned for other updates.