RBI Increases ATM Withdrawal limit to Rs 10,000 Perday

The Reserve Bank of India (RBI) on Monday (16/01/2017) raised the ATM withdrawal limit to Rs 10,000 per day from the earlier limit of Rs 4,500.The limit on withdrawal from current accounts has also been increased to Rs 1 lakh per week from the original limit of Rs 50,000 per week.However, the withdrawal limit for savings account remains unchanged at Rs 24,000 per week only.

The RBI had earlier increased the ATM withdrawal limit from Rs 2,500 to Rs 4,500 from 1st January 2017 and had said that all weekly withdrawals must be in the denomination of Rs 500 notes.Prime Minister Narendra Modi, in a televised address on November 8, had announced his decision to demonetize currency notes of Rs 500 and Rs 1,000 in an attempt to curb the menace of black money in the country.ATMS across the country were recalibrated to dispense the Rs 2,000 notes introduced by the RBI. The central bank, later, also issued new notes of Rs 500 with a different design.