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No Limit on ATM Withdrawals after Dec 30
By: Tupaki Desk | 21 Dec 2016 6:11 AM GMT
Minister of State for Finance Santosh Gangwar hints limit on ATM Withdrawals will be removed after December 30th deadline for demonetisation.
Mr.Santosh Gangwar, however, is unsure where Finance Ministry would just ease withdrawal caps or completely remove the withdrawal limit. He claims sufficient cash is available with RBI to meet the demand.
Few days ago, Even Finance Secretary Ashok Lavasa told withdrawal limit from ATMs will be reviewed after December 30th. So, People are hopeful to see removal of current restrictions at least after 50 days of struggle.
As of now, Only Rs 2,500 can be withdrawn from ATMs per day. Whereas, Centre permitted withdrawal of Rs 24,000 from banks per week but bank staff were unable to fulfill it due to unavailability of sufficient cash.
Mr.Santosh Gangwar, however, is unsure where Finance Ministry would just ease withdrawal caps or completely remove the withdrawal limit. He claims sufficient cash is available with RBI to meet the demand.
Few days ago, Even Finance Secretary Ashok Lavasa told withdrawal limit from ATMs will be reviewed after December 30th. So, People are hopeful to see removal of current restrictions at least after 50 days of struggle.
As of now, Only Rs 2,500 can be withdrawn from ATMs per day. Whereas, Centre permitted withdrawal of Rs 24,000 from banks per week but bank staff were unable to fulfill it due to unavailability of sufficient cash.
