RBI to relax cash withdrawal limits on or after Tuesday
The Reserve Bank of India has granted some relaxation on withdraw of money from Tuesday, 29th November. People are facing many problems with lack of liquid cash in hands, Staying hours together at ATMs to get small amount of cash. Keeping in mind of all these practical issues, the Government is exploring the helpful steps to better the situation. The RBI today has granted some relaxation on withdrawal of money, and it is not exactly specified the withdraw limit. At present people are able to get Rs 2,000 and Rs 500 from Banks and ATMS. Now, the arrangements were being made to revise it and to increase it more.
“It has been decided, on careful consideration, to allow withdrawals of deposits made in current legal tender notes on or after November 29, 2016 beyond the current limits; preferably, available higher denominations bank notes of Rs 2,000 and Rs 500 are to be issued for such withdrawals,” RBI said in a statement.
RBI Removed Cash Withdrawal Limits in the Bank From November 29th : Check New Cash Withdrawal Limits
This relaxation has been made due to the payment of salaries to the employees. After the demonetization of big notes RBI has received a sum of Rs 8.45 lakh crore from all banks during 10th November to 27th November, while the people have withdrawn the amount of Rs 2.17 lakh crore. After demonetization the amount exchanged from old notes to legal tender is Rs 33,950 crore. As per RBI reports, the deposited amount is Rs 8.11 lakh cr after demonetization.