Header Ads

RBI raises the ATM withdrawal limits for Rs 10000 per day

From Tuesday onwards, Rs 10,000 per day can be withdrawn from the Automatic Teller Machines (ATM), while a limit of Rs 24,000 per week will remain unchanged.


In meeting organized by various authorities the decision was taken by RBI governor. Few weeks ago, the RBI has put Rs 4500 per day from Rs 2500 and now by normalizing the demonetization, the withdrawal limit has increased from Rs 4500 to Rs 10k.

The limit of access to cash was declared on November 8 when Prime Minister Narendra Modi has suddenly shut down the use of Rs 500- and Rs 1000, in order to curb the black money.  This demonetization impel would check tax evasion, corruption and counterfeiting.

In order to deal with the problem of shortage of notes on the eve of New Year, Modi has increased the limits of withdrawal time to time. Finance Minister Arun Jaitley has pointed to improved tax collections to dismiss reports of economic disruption after the notes ban.

“Cash shortage is still making life difficult… many bank branches in smaller towns are still refusing to give cash to customers,” said CH Venkatachalam, general secretary, All India Bank Employees’ Association.
These machines are being provided with about Rs 9,000 crore per day against Rs 2,000-3,000 crore available to them in the early days of the demonetization exercise, jaitely added.

No comments:

Powered by Blogger.