The cash withdrawal limit for savings bank accounts was relaxed to Rs 50,000 from Monday. The limit on cash withdrawals for current account holders was already lifted.
Several limits on cash withdrawals from banks and ATMs were imposed after the government’s scrapped the use of Rs 500 and Rs 1,000 on November 8 in a bid to curb black money. The Demonetization has led to severe cash crunch.
On January 30, RBI had allowed withdrawal up to Rs 24,000 from savings accounts. This was preceded by the relaxation on January 16 when the limit was raised to Rs 10,000 per day from Rs 4,500.
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