Banks to raise exchange limit to Rs 4,500, withdrawal limits to Rs 24,000, withdrawal at ATM to be Rs 2,500. The Centre on Sunday revised the currency limits, increasing the exchange limit from Rs 4,000 to Rs 4,500 at the bank counter and withdrawal at ATM to Rs 2,500 per day. Withdrawal from bank account was raised to Rs 24,000 per week and the Rs 10,000 per day limit was removed.
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Banks to raise exchange limit to Rs 4,500, withdrawal limits to Rs 24,000, withdrawal at ATM to be Rs 2,500
After reviewing the currency exchange, availability and distribution of various denominations going on since November 10, the Ministry of Finance also advised banks to increase the Business Correspondents limit to Rs 2,500 for withdrawal from bank accounts.
|ATM withdrawal||Rs 2,000||Rs 2,500/Day|
|Bank exchange limit||Rs 4,000||Rs 4,500|
|Withdrawal from bank account||Rs 10,000 per day limit was removed||Rs 24,000/Week|
The Centre had initially placed a cap on ATM withdrawal at Rs 2,000, from accounts at Rs 10,000 per day with weekly limit of Rs 20,000 and exchange of currency at any bank, post-offices at Rs 4,000.
The ministry also advised banks to increase cash withdrawal limits in ATMs to Rs 2,500 per day in recalibrated ATMs. People were able to withdraw only upto Rs 2,000 so far. As for exchange of devalued banknotes, the ministry advised increasing the limit from Rs 4000 to Rs 4500.
Source : http://www.tribuneindia.com
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