Enter Keyword and Search





Monday, March 13, 2017

Removal of limits on withdrawal of cash from Saving Bank Accounts

with 0 Comment
No Limits on Cash Withdrawal from Savings Accounts from Today

“Effective March 13, 2017, there will be no limits on cash withdrawals from Savings Bank accounts – RBI”Cash withdrawal limits from banks removed from today
Keeping up with the pace of re-monetisation, Reserve Bank of India has lifted all the limitations that were placed on cash withdrawals that were placed since November 8th last year.
This means the state of pre-demonetisation in the banks is restored.

Removal of limits on withdrawal of cash from Saving Bank Accounts

In the wake of withdrawal of Specified Bank Notes (SBNs) since November 09, 2016 Reserve Bank had placed certain limits on cash withdrawals from Savings / Current / Cash credit /Overdraft accounts and withdrawals through ATMs. On a review of the pace of remonetisation, Reserve Bank partially restored status quo ante by removing the restrictions on cash withdrawals from Current / Cash credit / Overdraft accounts and ATMs effective January 31, 2017 and February 01, 2017 respectively. However, the limits on cash withdrawal from Savings Bank accounts continued to be in place.

In line with the pace of remonetisation, it has now been decided to remove the restrictions on cash withdrawals from Saving Bank accounts (including accounts opened under PMJDY) in a two step process as under:

Effective February 20, 2017, the limits on cash withdrawals from the Savings Bank accounts will be enhanced to ₹ 50,000 per week (from the current limit of ₹ 24,000 per week); and

Effective March 13, 2017, there will be no limits on cash withdrawals from Savings Bank accounts.

 Source: 7th CPC News

Related Posts Based on Your Search

0 comments:



Quick Links (O & P)

OBC OFB OHD Bank Notes One day Strike One Increment Arrears one rank-one pension Option Form Ordnance Employees Ordnance Employees Federations Ordnance Factories OROP OROP Anomalies OROP Arrears OROP Arrears Calculator OROP Calculation OROP Formula OROP Notification OROP Tables Outcome of NAC meeting Overtime Allowance Paid Holiday Pan Card paramedical staff Paramilitary Foreces Parents Care Leave Parliament Matters Parliamentary Committee Pass Issue Paternity Leave Patient Care Allowance Pay and Allowances Pay Arrears Pay Commission Pay fixation Pay Hike Pay in the Pay Band Pay Matrix Table Pay Matrix Table for CG Employees Pay Matrix Table for Defence Personnel Pay Revision Pay Structure Pay under FR 35 PBOR PC of A(Fys) Pcafys Orders PCDA Orders penalties and Disciplinary Pension Pensioners Issues Pension Arrears Pension Disbursing Authority Pension Disbursing Process Pension Option Pension orders Pensionary Benefits Pensioners Pensioners Association Pensioners Portal Orders Pensioners Portal Orders 2012 Pensioners Portal Orders 2013 Pensioners Portal Orders 2014 Pensioners Portal Orders 2015 Pensioners Portal Orders 2016 Persmin Person with Disabilities Personal Assistant PF PF Interest PFRDA PFRDA Circulars Pharmacists PIB News PLB Bonus Postal Department Postal Employees Postal Strike Prasar Bharati Pre-2006 Pensioners PRIS Private Airlines Private Hospitals Probation Period Productivity Linked Bonus Promotion Promotional Hierarchy promotional increment Promotional Quota Provident Fund PSU PSU Employees Public Holidays Public Provident Fund Qualification for LDC

Quick LInks (Q & R)

Recent Posts

Disclaimer:As and when orders amending the rules are published by the Government, the amendment orders will be published in our blog immediately. Readers are requested to refer to the source link is given at the end of the post. All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. 90paisa accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog. Links to other websites that have been included on this blog are provided for public convenience only. 90paisa is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.