Diabytes
Withdrawal limit News
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In a big relief for hundreds of its account holders, the Reserve Bank of India on Friday increased the withdrawal limit for depositors at the crisis-hit Punjab and Maharashtra Cooperative Bank (PMC Bank) to Rs 1 lakh from Rs 50,000.
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After Pnb one more bank fraud is in the market. RBI superseded the board of Yes Bank and imposed a month-long moratorium. Rbi told to customers not to panic in the situation of cash withdrawal
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The RBI said in a press release that it has decided to hike the withdrawal limit from Rs 25,000 to Rs 40,000 after reviewing the bank’s liquidity position and its ability to pay its depositors.
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In a major relief for thousands of customers of Punjab and Maharashtra Cooperative Bank Limited (PMC), Mumbai, the Reserve Bank of India on Thursday enhanced the withdrawal limit of the PMC customers from Rs 1,000 to Rs 10,000.
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In a big relief to people and small businesses, RBI on Monday announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts but the weekly limit of Rs 24,000 on savings bank accounts will continue.
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Government is planning to relax restrictions on withdrawal limit once 80 percent of the new currency is re-channelised in bank deposits, said top government official.
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In the wake of the November 8 demonetisation of high value currency, industry chamber Assocham on Sunday urged the government to increase the cash withdrawal limit for logistic and transport fleet owners since they need cash for meeting their expenses.
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Allaying fears of shortage, the Finance Ministry Monday said there is enough cash in the system and delivery channels are being augmented across the country to help cash-starved citizens.
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Daily limit for withdrawing cash from ATMs has been increased to Rs 2,500 from existing Rs 2,000 announced Ministry of Finance on Sunday.
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The apex body representing the cargo and passenger transport industry has warned that the supply of essential items can get adversely impacted, if the current cash withdrawal limit is not enhanced.
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