Reserve Bank of India on Wednesday announced to provide relief on Cash withdrawals from savings bank account holders. Cash withdrawal limit will be completely eradicated from March 13. After the removal of the limit will not be worth. RBI said that banks’ savings accounts weekly withdrawal limit of Rs.50,000 will be increased from 20 February and 13 March would be no limit.
The Reserve Bank of India on cash withdrawal limit has announced relief for consumers in two phases. Savings accounts at a time 50 thousand rupees can be withdrawn from February 20. So far, it is the sum of 24 thousand rupees in a week or at a time, i.e., you can remove only 24 thousand rupees. On the other hand, cash withdrawal limit will be eliminated from March 13 RBI announced, i.e., Limit of extracting money from the bank will end on March 13 altogether. The government had fixed the limit of cash withdrawal so far after the demonetization.