NEW DELHI: In a major relief for ATM users, the limits placed on withdrawals and current accounts has been raised with immediate effect as under:
(i) The limit on withdrawals from ATMs has been enhanced from the current limit of Rs 4,500 to Rs 10,000 per day per card (It will be operative within the existing overall weekly limit).
(ii) 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.
RBI may hike weekly cash withdrawal limit to Rs 40,000 this week
According to sources, the Reserve Bank of India (RBI) may hike the weekly cash withdrawal limit to Rs 35,000 - Rs 40,000. Currently the weekly cash withdrawal limit is at Rs 24,000. While the daily withdrawal limit from ATMs was previously raised from Rs 2,500 to Rs 4,000, the weekly limit was left unchanged.
Sources said that the RBI may issue a notification this week because of the increased availability of new notes with the central bank. They said the government was also in the favour of increasing the withdrawal limit.
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