RBI increases weekly cash withdrawal limit to Rs 50,000

The Reserve Bank of India on Monday increased the weekly limit on withdrawal of cash from savings bank accounts to Rs 50,000. The limit will be removed from March 13. The decision to increase the withdrawal limit was taken after the RBI announced its sixth bi-monthly monetary policy review. These limits, however, are being gradually eased, with RBI pumping in new notes of Rs 500 and Rs 2,000. Earlier, the RBI had decided to remove the limits on cash withdrawals in two phases, keeping with the pace of remonetisation.

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