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ATM Cash Withdrawal Limits Increased To ₹4,500 Per Day Per Card From Jan 1: RBI

There is no change in weekly withdrawal limits

30/12/2016 11:53 PM IST | Updated 31/12/2016 12:13 AM IST
Danish Siddiqui / Reuters

In some relief, the Reserve Bank has relaxed the daily withdrawal limit from ATMs from the current ₹2500/- to ₹4500 per day per card from January.

However, there is no change in weekly withdrawal limit of up to ₹ 24,000 per week, RBI said in a note. It also directed banks that ATM disbursals should be made predominantly be in the denomination of ₹500.

RBI has said the move was in response to reports that certain depositors were hesitating to deposit cash into their bank accounts "in view of the current limits on cash withdrawals from accounts."

However, 50 days after demonetisation, cash shortage still continues at ATMs with nearly 60 per cent of of the 2.2 lakh ATM machines running dry, according to an Indian Express report that cited leading deployers.

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