Please
refer to our circular
DCM (Plg) 2905/10.27.00/2016-17 dated January 30, 2017 on the captioned
subject.
2.
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. On a
review of the pace of remonetisation, Reserve Bank partially restored status quo
ante by removing the restrictions on cash withdrawals from Current / Cash credit
/ Overdraft accounts and ATMs effective January 31, 2017 and February 01, 2017
respectively. However, the limits on cash withdrawal from Savings Bank accounts
continued to be in place.
3.
In line with the pace of remonetisation, it has now been decided to remove the
restrictions on cash withdrawals from Saving Bank accounts (including accounts
opened under PMJDY) in a two step process as under:
Effective
February 20, 2017, the limits on cash withdrawals from the Savings Bank accounts
will be enhanced to ₹ 50,000 per week (from the current limit of ₹ 24,000 per
week); and
Effective
March 13, 2017, there will be no limits on cash withdrawals from Savings Bank
accounts.
4.
Please acknowledge receipt.
Yours
faithfully,
(P
Vijaya Kumar)
Chief
General Manager
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