Reserve Bank has enhanced the cash withdrawal limit from Savings Bank Account to 50,000 rupees from the existing 24,000 rupees from 20th Feb. RBI has also said that all limits on cash withdrawals from Savings Bank Account will be withdrawn from 13th of next month.

The Reserve Bank of India (RBI) on February 8 had announced its decision to enhance the withdrawal limit on saving accounts from February 20.

Keeping up with the pace of remonetisation, the RBI had said that it has decided to enhance the withdrawal limit on saving accounts in two phases. From February 20, 2017 the limit on cash withdrawal will be enhanced to Rs 50,000 per week and from March 13, 2017, there will not be any limit on cash withdrawals.

Earlier, the central bank had partially restored status quo ante on cash withdrawal limit for current accounts from February 1. The limit on cash withdrawals were brought in by the RBI after Prime Minister Narendra Modi announced demonetisation on November 8, 2016. #casansaar (NewsonAir)