Limits on cash withdrawal from savings bank account removed from today


New Delhi: All restrictions on cash withdrawal from savings bank account have been removed as the Reserve Bank of India (RBI) had announced about it last month. Earlier, it had removed cash withdrawal limits from ATMs from February 1.

Last month, the RBI had issued a notification saying that the withdrawal limit of cash from savings bank accounts will be relaxed to Rs. 50,000 from February 20 and there would be no restrictions from March 13.

The Central Bank had put curbs on cash withdrawals and set a withdrawal limit from the ATMs and from bank accounts after the announcement the decision to demonetise old Rs. 500 and 1,000 currency notes on November 8 last year.


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