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No ATM withdrawl of Rs.4.000 everyday

Wed 16 Nov 2016, 11:00:03
The Centre has decided not to increase the ATM withdrawal limit to  Rs 4,000 a day by this weekend as majority of the ATMs are yet to be recalibrated for dispensing the new Rs 500 and Rs 2,000 notes.
ATM withdrawal limit from savings bank accounts will continue to be at Rs 2,500 a day for the time being. The limit set after Prime Minister Narendra Modi on Sunday night reviewed the demonetisation of high-value currency notes.Cash withdrawal from current accounts, which have been in operation for at least three months, has also been restricted to Rs 50,000 in a week, a notification said.
After withdrawing Rs 500 and Rs 1,000 notes — which make up for 86% of the total



currency in circulation — the government had on November 8 set a cash withdrawal limit of Rs 2,000 per day from ATMs. This limit was to be raised to Rs 4,000 per day per card from November 19, 2016. The limit was hiked to Rs 2,500 on Monday.
Following this, the November 14 notification said “The words, letters and figures ‘and the limit shall be raised to Rs 4,000 per day per card from November 19, 2016’ shall be omitted”.
The government had on Monday said that only ATMs that have been tuned to handle differently sized new currency notes of 2,000 and 500 will dispense Rs 2,500 per day cash. Others will continue to be restricted at Rs 2,000 a day.


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