Mumbai: Finally there is some good news for people who have been bogged down by demoentisation. The Reserve Bank of India (RBI) has increased the daily cash withdrawal limit from ATMs to Rs. 10,000 per day.
But this is a marginal relief for people as their weekly withdrawal limit from saving bank accounts remain unchanged at Rs. 24,000.
Nonetheless, the current account holders get some much needed respite as the withdrawal limits been increased to Rs. 1,00,000 per week from Rs. 50,000. Reserve bank of India has also made it public that the new limit applies to overdraft and cash credit accounts too.
Prime Minister Narendra Modi had announced the demonetization of Rs 500 and Rs 1000 currency notes on November 8. During the last two months, most of people have spent several days standing in serpentine queues outside banks and ATMs across the country. In many areas queues remain there though they have become substantially smaller in the last two weeks.