16/01/2017 6:05 PM IST | Updated 16/01/2017 6:20 PM IST

RBI Hikes ATM Withdrawal Limit To ₹ 10,000 

Weekly current account withdrawal limit is now ₹ 1 lakh

Anuwar Hazarika / Reuters

NEW DELHI -- The RBI on Monday hiked the daily ATM withdrawal limit from ₹ 4,500 to ₹ 10,000 and doubled the weekly Current Account withdrawal limit to ₹ 1 lakh.

The withdrawals from ATMs will be operative within the existing overall weekly limit of ₹ 24,000, a Reserve Bank of India communique said.

"On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same with immediate effect," the RBI said.

On December 31, the RBI relaxed the daily ATM withdrawal limit to ₹ 4,500 from the earlier cap of ₹ 2,500.

The enhanced Current Account withdrawal has been extended to overdraft and cash credit accounts, the RBI said.

The caps followed the November 8 government decision to demonetise the ₹ 500 and ₹ 1,000 notes, a decision which triggered widespread cash crunch in the country.

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