In a big relief to citizens of the country, the Reserve Bank of India (RBI) on Monday raised the ATM cash withdrawal limit from Rs4,500 to Rs10,000 per day with immediate effect. Sources said that the weekly limit would be hiked to Rs40, 000 from the existing Rs24,000 soon. However, current account withdrawal limit has been increased to Rs1,00,000 a week from Rs50,000.
“Though the withdrawal cap of existing overall weekly limit of Rs24,000 from ATMs will stay for a few days more, it would be raised to Rs40, 000 very soon,” sources added.
The move comes at a time when the Government wants such citizen-friendly measures to ease the pressure on the common man who has been reeling under severe cash crunch ever since Prime Minister Narendra Modi declared the old 500 and 1000-rupee notes as illegal tender on November 8. The RBI had increased the daily withdrawal limit from ATMs to Rs4,500 from Rs2,500 on January 1.