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Withdrawal limits for Bank Deposits eased
By: Tupaki Desk | 29 Nov 2016 5:58 AM GMT
Reserve Bank of India Today eased few restrictions on the withdraws from bank deposits. Now, People can withdraw deposits made in legal currency notes beyond Rs 4,000 per day and Rs 24,000 per week.
Which means, Customers who deposited valid Rs 5/10/20/50/100/500/2000 currency will be permitted to withdraw more than limit existed till Yesterday (November 28th). This is an attempt to encourage people to deposit valid currency notes in banks.
Small Traders with current accounts can withdraw Rs 50,000 per week.
After demonetization, People stopped depositing valid currency in banks. This eventually prevented the circulation of currency notes. The ease of norms on withdrawal would address this issue.
Which means, Customers who deposited valid Rs 5/10/20/50/100/500/2000 currency will be permitted to withdraw more than limit existed till Yesterday (November 28th). This is an attempt to encourage people to deposit valid currency notes in banks.
Small Traders with current accounts can withdraw Rs 50,000 per week.
After demonetization, People stopped depositing valid currency in banks. This eventually prevented the circulation of currency notes. The ease of norms on withdrawal would address this issue.
