Cash withdrawal limit for savings accounts increased to Rs 50,000 from Rs 24,000 per week


New Delhi: The weekly limit on withdrawal of cash from savings bank accounts will be increased to Rs 50,000, from the current Rs 24,000 and effective from March 13 sources said.  There will be no limits on cash withdrawals from Savings Bank accounts.

The Government and RBI had imposed limits on withdrawal of money from ATMs and bank branches in view of the currency shortage following demonetisation.

In the wake of withdrawal of Specified Bank Notes (SBNs) since November 09, 2016 Reserve Bank had placed certain limits on cash withdrawals from Savings / Current / Cash credit /Overdraft accounts and withdrawals through ATMs.

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