Banks to raise exchange limit to Rs 4,500, withdrawal at ATM to be Rs 2,500 : The Tribune India

Join Whatsapp Channel

demonetisation

Banks to raise exchange limit to Rs 4,500, withdrawal at ATM to be Rs 2,500

NEW DELHI: The Centre on Sunday revised the currency limits, increasing the exchange limit from Rs 4,000 to Rs 4,500 at the bank counter and withdrawal at ATM to Rs 2,500 per day. Withdrawal from bank account was raised to Rs 24,000 per week and the Rs 10,000 per day limit was removed.

Banks to raise exchange limit to Rs 4,500, withdrawal at ATM to be Rs 2,500

A woman clicking a selfie with the new Rs 2,000 notes in Dhanbad on Sunday. PTI



Tribune News Service

New Delhi, November 13

The Centre on Sunday revised the currency limits, increasing the exchange limit from Rs 4,000 to Rs 4,500 at the bank counter and withdrawal at ATM to Rs 2,500 per day. Withdrawal from bank account was raised to Rs 24,000 per week and the Rs 10,000 per day limit was removed.

(Follow The Tribune on Facebook; and Twitter @thetribunechd)

After reviewing the currency exchange, availability and distribution of various denominations going on since November 10, the Ministry of Finance also advised banks to increase the Business Correspondents limit to Rs 2,500 for withdrawal from bank accounts.

The Centre had initially placed a cap on ATM withdrawal at Rs 2,000, from accounts at Rs 10,000 per day with weekly limit of Rs 20,000 and exchange of currency at any bank, post-offices at Rs 4,000.


What you need to know

— Limit of old notes that can be exchanged with new ones raised from Rs 4,000 to Rs 4,500 per day.

— Cash withdrawal limit at ATMs hiked to Rs 2,500 from Rs 2,000 per day.

— Weekly limit of Rs 20,000 for withdrawal from bank counters increased to Rs 24,000.

— Daily limit of Rs 10,000 for withdrawal at bank counters removed.


Banks have been advised to make arrangements for separate queues for senior citizens and persons with different abilities.

Separate queues will also be arranged for exchange of cash-to-cash and transactions against bank accounts.

It has been reported that certain business houses like hospitals, caterers, tent houses, etc., are not accepting cheques/demand drafts and online payment transfer from customers. It is advised that in such cases customer can make a complaint to the concerned District Magistrates/District Administration for action against such establishments.

Official spokesperson of the government, Frank Noronha announced that in the first four days, till close of bank hours this evening, about Rs 3 lakh crore of old Rs 500 and Rs 1,000 notes were deposited in the bank accounts.

Banks have dispensed with Rs 50,000 crore to customers either through withdrawals from their accounts or from ATM and exchange of counter. The total transactions stand at 21 crore.

Top News

Cash-strapped Congress gets fresh IT notice of Rs 1,700 crore, say party insiders

Cash-strapped Congress gets fresh I-T notice of Rs 1,800 crore

Ajay Maken addresses a press conference

Special court convicts 7 people in BSP MLA Raju Pal murder case

Special court convicts 7 people in BSP MLA Raju Pal murder case

The proceedings against Atiq Ahmad, his brother and prime ac...

Arvind Kejriwal's wife releases WhatsApp number for people to send messages for jailed AAP leader

Arvind Kejriwal's wife launches WhatsApp campaign to garner support for AAP leader

In a digital media briefing, Sunita says her husband has cha...

Alka Rai, widow BJP MLA killed by Mukhtar Ansari, says 'justice has been served', visits Ram Mandir

Alka Rai, widow BJP MLA killed by Mukhtar Ansari, says 'justice has been served', visits Ram Mandir

Alka Rai is the wife of MLA Krishanand Rai, who was shot dea...


Cities

View All