Daily Email Newsletter (Sign-up Free)

Withdrawal of Cash from Bank Deposit Accounts - Relaxation

RBI Circular DCM.No.1437/10.27.00/2016-17 November 28, 2016

1. It has been reported that certain depositors are hesitating to deposit their monies into bank accounts in view of the current limits on cash withdrawals from accounts.

2. As it is impeding active circulation of currency notes, it has been decided, on careful consideration, to allow withdrawals of deposits made in current legal tender notes on or after November 29, 2016 beyond the current limits; preferably, available higher denominations bank notes of Rs. 2000 and Rs. 500 are to be issued for such withdrawals.

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.