Woes have been increased ever since the time PM Modi announced demonetization. This sudden ban on notes paved way for sudden cash-withdrawal limits, which further added to lot of hassles.
Many new moves were introduced; cash was made available at Big Bazaar stores, V-Mart stores and other retail outlets, but cash demands couldn’t be fulfilled at all. The main trouble was the ATM cash-withdrawal limit i.e. Rs 4,500 per day, which caused great troubles to everyone.
But as a major relief to common people, the limit has been hiked by the RBI. Yes; you got that right! Now, RBI has increased the limit from Rs 4,500 to Rs 10,000. I am sure this announcement has made you jump with joy, isn’t it?
Apart from the increase in daily ATM withdrawal limit, RBI has also increased the limit of current accounts. Earlier, it was Rs 50,000 per week, but now, it has been raised to Rs 1 lakh.
RBI added that, this is not only restricted to current accounts, but is extended to cash credit accounts and overdraft accounts as well.
So finally, we have this good news from RBI; let’s cherish it. Do you think, the withdrawal limit will further be increased? Do share your views in our comments section below.