RBI Scraps Cash Withdrawal Limits on ATMs, Current Accounts

But the withdrawal limits of Rs 24,000 on savings bank accounts will continue for the time being.

The RBI seal. (Photo: Reuters)

• The Reserve Bank of India on Monday scrapped the limits placed on cash withdrawals from current, cash credit and overdraft accounts with immediate effect.
• The limits placed on cash withdrawals from ATMs (apart from savings accounts) stand withdrawn from 1 February. Banks may, at their discretion, have their own operating limits, said the RBI.
• The withdrawal limits of Rs 24,000 on savings bank accounts will continue for the present and will come under consideration for withdrawal in the near future.

(With inputs from ANI)