Money & Banking

Current account holders can now withdraw up to ₹50,000 a week

Our Bureau Mumbai | Updated on January 15, 2018 Published on November 14, 2016

After enhancing the limit for exchange of old ₹500 and ₹1,000 bank notes to ₹4,500 from ₹4,000 and upping the per day ATM cash withdrawal limit to ₹2,500 from ₹2,000 with effect from Monday, the Reserve Bank of India has now made life a tad easier for small businesses by allowing current account holders to withdraw up to ₹50,000 a week.

The RBI said the current account should have been operational for the last three months or more and disbursement will be done predominantly in ₹2,000 denomination notes.

The RBI said banks may deploy their micro ATMs near village panchayat offices, police stations/police and military outposts, government departments, offices of public sector units, petrol pumps and other similar secure locations.

Published on November 14, 2016
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