Considering the needs and requirement of the business community, small traders, the government has raised the withdrawal limit from ‘current account’ to Rs 50k.
Now, holders of current, overdraft and cash credit accounts may now withdraw up to Rs 50,000 in cash in a week.
According to the note published on RBI website, RBI said “On a review, it has been decided to extend this facility to Overdraft and Cash Credit accounts also. Accordingly, holders of current / overdraft / cash credit accounts, which are operational for the last three months or more, may now withdraw upto 50000 in cash in a week. This enhanced limit for weekly withdrawal is not applicable for personal overdraft accounts.Such withdrawals may be disbursed predominantly in 2000 denomination bank notes.”