No limits on cash withdrawals through ATMs, current a/cs from today

New Delhi: In a big relief to people and small businesses, RBI has announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts from Wednesday but the weekly limit of Rs 24,000 on savings bank accounts will continue.

The Reserve Bank also promised to review the weekly limit in the near future depending on the pace of remonetisation.

"On a review of the pace ofBudget Session of Parliament 2017: Demonetisation decision to fight black money and corruption, says President Pranab Mukherjee remonetisation, it has been decided to partially restore status quo ante," RBI said adding, cash withdrawal limit from ATMs stands withdrawn from February 1, 2017.

The Reserve Bank also promised to review the weekly limit in the near future depending on the pace of remonetisation.

"On a review of the pace of remonetisation, it has been decided to partially restore status quo ante," RBI said adding, cash withdrawal limit from ATMs stands withdrawn from February 1, 2017.