RBI released a statement on Monday stating that the cash withdrawal limit from ATMs will be increased to Rs 10,000 per day, per card, from the existing limit of Rs 4,500 with immediate effect.
The statement also says that the withdrawal limit from all current accounts will be increased from a limit of Rs 50,000 per week to Rs 1,00,000 per week including overdraft and cash credit accounts.
There is however, no change to the weekly withdrawal limit of Rs 24,000 from the ATMs.
Source: Reserve Bank of India
RBI had revised the cash withdrawal limit from Rs 2,500 to Rs 4,500, which came into effect on January 1, 2017.
The statement also says that there are no changes to other conditions and that the relaxations as provided in their circular dated November 28, 2016 will continue.
This has been a welcome change for cash trapped people of India who are getting tired of standing in long queues outside banks and ATMs following the demonetisation of Rs 500 and Rs 1,00 notes.
