RBI increases cash withdrawal limit from ATMs to Rs 4,500 from Jan 1

RBI issued a statement on Friday citing that from January 1 2017, the daily withdrawal limit of ATMs would be increased from the current Rs 2, 500 rupees to Rs 4, 500. The bank also said that there would be no change in weekly withdrawal limits.

The statement read: On a review of the position, the daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 01, 2017, from the existing ₹ 2500/- to ₹ 4500/- per day per card. There is no change in weekly withdrawal limits.Such disbursals should predominantly be in the denomination of ₹ 500.