RBI may not relax cash withdrawal limit for 3 weeks to a month

January 24, 2017 22:49

Your weekly cash withdrawal limit of Rs 24,000 is likely to continue for another three weeks to a month before the Reserve Bank of India finally decides to relax the cap.

The central bank, however, could double the daily withdrawal limit at the ATMs after a detailed analysis of transaction patterns and payment modes, sources said.

The RBI has increased the withdrawal limit at the ATMs thrice since the announcement of the demonetisation of bank notes of Rs 500 and 1000 denominations on November 8. But the weekly limit has been maintained at Rs 24,000.

Sources said that the central bank may increase the withdrawal limit from the ATMs to align it with the weekly cap of Rs 24,000. The move aimed at taking pressure off the banks.

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