- Current Account holders can now withdraw any amount on a daily basis
- No limits on cash withdrawals through ATMs from February 1
- Saving Accounts still face the limit of Rs 24,000 per week
This means that from Wednesday, savings accounts holders will no longer be restricted to withdrawing only 10,000 rupees in a single transaction from ATMs. They will be able to withdraw Rs. 24,000 at one go, but because curbs on savings accounts haven't been lifted yet, they cannot withdraw any more money all that week thereafter.
The RBI today said it was allowing banks to use their "discretion" in placing their own daily cash withdrawal limits at ATMs, as was the case before November 8,
Withdrawal of money from bank accounts was curbed amid a massive cash crunch that followed Prime Minister Narendra Modi's sudden announcement on November 8 last year scrapping 500 and 1000 rupee notes.
The RBI chief Urjit Patel earlier this month told a parliamentary panel that the central bank has issued Rs 9.2 lakh crore of new currency, thus replacing 60 per cent of demonetised currency.
The RBI had initially set a cash withdrawal limit of Rs. 50,000 from current accounts which was later increased to Rs. 100,000 a day.