RBI removes withdrawal limit for current accounts; banks can impose restrictions on ATM withdrawals

In a huge relief to the common man, the Reserve Bank of India (RBI) removed withdrawal restrictions from current accounts with effect from February 01. Till now, people could withdraw Rs 6,000 per day and Rs 1 lakh per week from current accounts.

However, the withdrawal limit from savings accounts will continue, which can be removed soon.

RBI stated banks can impose their own limits on ATM withdrawals.

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