ATM withdrawal limit now Rs 10,000

New Delhi, January 16

The Reserve Bank of India (RBI) today enhanced the withdrawal limit from ATMs from the current cap of Rs 4,500 to Rs 10,000 per day per card. There, however, is no ease in the weekly withdrawal limit of Rs 24,000.

The move is likely to cut down the repeat use of ATM transactions, which adds to queues, provided there is adequate currency supply.

The RBI also doubled the weekly withdrawal limit for current accounts to Rs 1 lakh from Rs 50,000, which provides more liquidity to traders and shopkeepers.

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The RBI had increased the daily withdrawal limit from ATMs to Rs 4,500 from Rs 2,500 effective January 1. “The limit on withdrawals from ATMs has been enhanced from the current limit of Rs 4,500 to Rs 10,000 per day per card,” the RBI said. The limit on withdrawal from current accounts has been enhanced from Rs 50,000 to Rs 1 lakh per week and it has been extended to overdraft and cash credit accounts too. — TNS