Demonetisation: RBI raises daily ATM cash withdrawal limit to Rs 10,000

[Kool_SRG]

The Reserve Bank of India on Monday increased withdrawals from ATMs from the current limit of Rs 4,500 to Rs 10,000 per day per card. However, the weekly withdrawal limit from banks remain at Rs 24,000 per week.

The withdrawal limit from current accounts has been extended from Rs 50,000 to Rs 100,000 per week. These relaxations will be in effect from Monday midnight.

Withdrawal and deposit rules were put in place after the government announced its demonetisation drive on November 8.

[Kool_SRG]

ATM Cash Withdrawal Limit Raised From Rs. 4,500 To Rs. 10,000 A Day, Says Reserve Bank

NEW DELHI:  Starting tomorrow, you can pull out 10,000 per day from an ATM, though a weekly limit of 24,000 per bank account remains unchanged. The RBI has increased the daily limit for ATM withdrawals from Rs. 4,500 which has been in place for a few weeks now. From current accounts, the amount that can be collected each week has been doubled to a lakh.

Limits of access to cash were declared on November 8 when Prime Minister Narendra Modi made the shock announcement that 500- and 1,000- rupee notes would be illegal just a few hours later.  The demonetisation drive, he said, would check tax evasion, corruption and counterfeiting.

A huge cash crunch followed, driving millions of Indians into long lines at banks, and the PM in an emotional speech asked for "just 50 days" till December 30 to resolve problems. After the new year, the scarcity of notes has eased up, though the opposition has said the government has defaulted on its PM because cash restrictions remain in place and, according to most estimates, virtually all the banned notes have been deposited in banks, meaning that black money has not been destroyed or forced out.

Finance Minister Arun Jaitley has pointed to improved tax collections to dismiss reports of economic disruption after the notes ban.

 

The shock decision on abolishing high-denomination notes  prompted most private economists to slash growth forecasts to 6.3-6.4 per cent for the fiscal year 2016/17 from over 7.5 per cent, citing the impact of the demonetisation, which they said would linger for one more year, but the government has called those concerns unfounded.

The  Finance Ministry's Statistics Office has predicted strong economic growth in the current fiscal year that ends in March. Gross Domestic Product is estimated to expand by an annual 7.1 per cent in the current fiscal year, slower than a provisional growth of 7.6 per cent in 2015/16. But the forecast does not fully take into account the impact of the notes ban.

On Friday, Urjit Patel, the Governor of the Reserve Bank of India, has been summoned by a parliamentary committee to explain how the demonetisation decision was taken as also to outline its impact. In a written answer ahead of his appearance, the central bank has stated that it was the government which "advised" that 500 and 1,000-rupee notes be removed from circulation, which was then cleared by the RBI the next day.  

The PM announced demonetisation just 24 hours after that.  

The RBI has been criticised for following the government's lead on a landmark decision on currency and for taking a backseat in the days that followed, with Mr Patel missing from briefings that made important announcements on issues like cash limits.

[TampaChinnodu]

2 , 3 weeks nundi assalu IT raids news ee levu okkati kooda. Antha settled down aa.

[Kool_SRG]

1 minute ago, TampaChinnodu said:

2 , 3 weeks nundi assalu IT raids news ee levu okkati kooda. Antha settled down aa.

Anta salla badindi...Kaakapote inka ATMs full fledged ga open kaale...

[Bhai]

On Friday, Urjit Patel, the Governor of the Reserve Bank of India, has been summoned by a parliamentary committee to explain how the demonetisation decision was taken as also to outline its impact

 

[chor]

limits kaadu notes marchali.. 2k notes pettadam valle max torture common ppl ki

[Kool_SRG]

1 minute ago, chor said:

limits kaadu notes marchali.. 2k notes pettadam valle max torture common ppl ki

Ippudu only 500 & 2000 vastunnayi...500 still less, 2000 more no 100s..

Ippudu 10000 teestanante 5 x 2000 vastayi for sure...

[chor]

1 hour ago, Kool_SRG said:

Ippudu only 500 & 2000 vastunnayi...500 still less, 2000 more no 100s..

Ippudu 10000 teestanante 5 x 2000 vastayi for sure...

yaade kada

giving 2k notes is waste.. business chesevallu kani banks vallu kani assal cooperativega undaru..

change kavali antaru.. only 1000+ bill aithene change istaru.. banks lo aithe 500s 100s ivvatam edo pedda favor la untundi valla behabior.. banks vallu 500 notes pedithe tvaraga refill cheyalani 2k notes pedataru atms lo.. weekends, selavalu vasthe no refill at atms.. asalu pattinchukoru.. adigevadu kuda undadu

[ronitreddy]

1 hour ago, Kool_SRG said:

Ippudu only 500 & 2000 vastunnayi...500 still less, 2000 more no 100s..

Ippudu 10000 teestanante 5 x 2000 vastayi for sure...

Avi tiskoni em cheskovali..Evaru change istharu ?

[Kool_SRG]

Ade ga pedda unanswerable kochen 

[solman]

limit pencharu.. good.. good  

but ATM lo money pedutunara mari 

[Kool_SRG]

4 minutes ago, solman said:

limit pencharu.. good.. good  

but ATM lo money pedutunara mari 

Daily limit pencharu but not weekly limit...ATMs bit ok than earlier but not yet to the state before Nov 8 long way to go...

[solman]

4 minutes ago, Kool_SRG said:

Daily limit pencharu but not weekly limit...ATMs bit ok than earlier but not yet to the state before Nov 8 long way to go...

weekly limit enta?

[Kool_SRG]

1 minute ago, solman said:

weekly limit enta?

24K for saving A/C..

[Ara_Tenkai]

10 minutes ago, Kool_SRG said:

24K for saving A/C..

Hindu paperlo 1L ki inc chesaru ani chepparu

 

my bad: only current accounts antahttp://www.thehindu.com/business/Economy/ATM-withdrawal-limit-increased-to-Rs.-10000-a-day/article17045413.ece?homepage=true