Latest GK GS

Updated By: LatestGKGS Desk

RBI waives withdrawal limit deposit to be current legal tender

 

 

Reserve Bank of India waves off all the limits of withdrawal of money from banks

Reserve Bank of India extended the limit of withdrawal of notes from the banks or the ATM

RBI has provided the relief due to upcoming salary so that the people can withdraw as much amount they want.

Person can withdraw the amount deposited in current legal tender to withdraw over Rs.24,000

One condition is that the people can withdraw deposits made in current legal tender i.e. currency of 5, 10, 20,50,100,500,2000.

The deposited amount of current legal tender will rise the person’s withdrawal limit over Rs.24,000.

RBI has taken this step so that people can deposit the current legal tender in the banks and to ease circulation.

Due to demonetisation, people are hesitating to deposit the current legal tender currency in the banks due to lower withdrawal limit.


 

Latest Reserve Bank Of India (RBI) Updates

» Note Ban: RBI introduced CRR rate to be applicable from 26th Nov

» Vodafone M-Pesa for withdrawal of cash using digital wallet

» Note Ban: Rs.500 and Rs.1000 note now accepted in RBI from 25 Nov

» PM Narendra Modi's Mann Ki Baat 27 Nov Note Ban, Cashless Economy

» Note Ban: Time Extension for old Rs 500 note at National Highways