RBI hiked the withdrawal limits from Rs.4500 to Rs.10000

Mumbai, Januaruy 17: A Good news for money seekers ,who are standing at the ATMs.The Reserve Bank of India (RBI) on Monday raised the daily cash withdrawal limits from automated teller machines (ATMs)to Rs.10,000 from the existing Rs.4,500, with immediate effect. However, the weekly cash withdrawal limit remains unchanged at Rs.24,000.

The RBI also hiked the limit on withdrawals from current accounts to Rs.1,00,000 per week from Rs.50,000.This limit is also applicable to overdraft and cash credit accounts.

"On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same with immediate effect," the RBI said.

There are about two lakh ATMs in the country. Bankers said most of them had been recalibrated to read the new Rs.2,000 and Rs.500 notes as these are of different sizes compared to the notes that were withdrawn as part of the demonetization exercise on November 8 last year.

The government said the move was aimed at rooting out black money and corruption.