Good news! Cash withdrawal restrictions likely to go away by February-end
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"I think the restrictions on withdrawal by RBI should be completely lifted by February-end or by first half of March as cash situation is easing gradually," Bank of Maharashtra executive director R K Gupta told PTI.
It is entirely RBI's decision and the central bank would decide after making holistic assessment of the situation, he said.
According to SBI's research report Ecowrap, "By the end of February, 78-88 per cent of the currency could be back in the system under he best case scenario in terms of an optimal currency distribution (more small denomination notes)," the report said, adding that "it seems within next 2 months things would be pretty close to normal."
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Another senior public sector bank official said the situation is easing and it is a matter of weeks when the curb on withdrawal gets eased.
"My hunch is that it should happen before end of the current fiscal," the official said, adding, RBI has been progressively easing the curb.
The RBI had earlier increased the daily withdrawal limit from ATMs to Rs 4,500 from Rs 2,500 effective January 1, just a day after 50-day
Meanwhile, RBI Governor
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