Sunday, 13 November 2016

RBI Increase Withdrawal limit

As require, RBI increases the withdrawal limit of money from Banks and ATMs. While the exchange of cash was increased from Rs 4,000 to Rs 4,500 per day, Withdrawal limit has been increased to Rs 24,000 from existing Rs 20,000. Whereas, Citizens were now permited to withdraw Rs 2,500 from ATMs. Earlier, Only 2000rupees per day was issued.The limit on bank deposit amout Rs 2.5 lakh remains constant. Even the December 30th deadline doesn't convert either.

Reserve Bank Headquarters has already begun distributing new Rs 500 currency notes since Yesterday. This should arrive as a big relief for the janata as they weren't able to pay out the Rs 2000 currency notes due to need of Rs 500 notes with the buyers.Prime Minister Narendra Modi kept demonetization is just the first step to abolish Black Money. He intimate further operation on Tax Evaders after Dec 31th, 2016
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