The Reserve Bank of India (RBI) has eased the caps on withdrawals from automated teller machines (ATM) with immediate effect. Now, customers will be allowed to withdraw up to Rs10,000 per day per card compared to the earlier Rs4,500, though a weekly limit of 24,000 per bank account remains unchanged.
These enhanced cash withdrawal limits will be within the weekly cap of Rs24,000, the central bank said. The central bank has also enhanced cash withdrawal limits for current accounts to Rs1 lakh from Rs50,000 earlier. The limits are applicable to overdraft and cash credit accounts too, it said.
Following demonetisation of old Rs500 and Rs1,000 notes on 8 November, limits had been imposed on withdrawal of cash from banks as well as ATMs.
On December 28, the RBI had revised the cash withdrawal limit from Rs 2,500 to Rs 4,500, which came into force on January 1, 2017. The move had been hailed by cash-strapped people all over the country.