Reserve Bank Of India Lifts ATM Cash Withdrawal Limits From Wednesday

The Reserve Bank of India or RBI today said it will remove curbs on daily cash withdrawals from ATMs or automated teller machines from Wednesday, February 1. It has also lifted with immediate effect, it said, restrictions on withdrawal from current accounts, cash credit accounts and overdraft accounts. Limits on withdrawing cash from savings bank



accounts would however continue for now and are "under consideration for withdrawal in the near future," the central bank said.

This means that from Wednesday, savings accounts holders will no longer be restricted to withdrawing only 10,000 rupees in a single transaction from ATMs. They will be able to withdraw Rs. 24,000 at one go, but because curbs on savings accounts haven't been lifted yet, they cannot withdraw any more money all that week thereafter.