RBI kept 10,000 Rs withdrawal Limit per Month From Jan Dhan Yojana Bank Accounts
The RBI has fixed the withdrawal limit of Rs 10,000 on Jan Dhan Yojana Bank Accounts. With a view to supporting the agriculturists and country account holders of PMJDY (Pradhan Mantri Jan-Dhan Yojana) from activities of money launderers, the RBI has chosen to put certain points of confinement, as an issue of precautionary measure, on the operations in the PMJDY accounts supported through stores of Specified Bank Notes (SBNs) after November 9, 2016.
RBI kept 10,000 Rs withdrawal Limit per Month on PMJDY Accounts
As a transitory measure, the banks are encouraged to watch the accompanying in regard of the PMJDY accounts: Fully KYC objection account holders might be permitted to pull back Rs10,000 from their accounts in a month.
The branch managers may permit facilitate withdrawals beyond Rs10,000 within the current relevant points of confinement simply subsequent to finding out the validity of such withdrawals and appropriately archiving the same on bank’s record.
Limited or non-KYC-compliant account holders might be permitted to withdraw Rs5,000 every month from the sum stored through SBNs after November 9, 2016, within the overall ceiling of Rs 10,000.
Talking about the effect of these breaking points, Rajnish Kumar, MD, SBI told CNBC-TV18 the Jan Dhan accounts are generally worked through Business Correspondent (BC) channels and ordinarily size of exchanges is low at Rs 1,000 to 1,200.
SBI had as of now put in a limitation of Rs 2,500 on withdrawal from non-KYC-complaint Jan Dhan accounts. In this way, the effect have to be insignificant aside from the adjustment in withdrawal limits, he says.
SBI has so far recalibrated about 39,000 of its 48,000 ATMs, he said, including, the bank is working out techniques to smoothen out the money course to meet pay-day prerequisites.