RBI increases cash withdrawal limit from ATMs to Rs 10,000 per day per card

The Reserve Bank of India (RBI) on Monday increased the cash withdrawal limit from ATMs to Rs 10,000 per day with immediate effect. This is, however, operative within the existing overall weekly limit that is Rs. 24,000.

The previous daily limit was Rs. 4,500.

The statements from the bank said, "The limit on withdrawal from current accounts has been enhanced from the current limit of Rs. 50,000/- per week to Rs. 1,00,000/- per week and it extends to overdraft and cash credit accounts also."

There are no further changes in other conditions and the relaxations provided on 28 November, 2016 will continue.

Several limits on cash withdrawals had been imposed on ATMs after the Union Government announced demonetisation of high-end value currency notes and Rs. 1000 and Rs. 500 notes were no longer legal tender.

Since then, the RBI has been gradually increasing the limits on withdrawals.

-ANI