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RBI Relaxes on Withdraw of Cash from Bank Deposit Account

Reserve Bank of India makes relaxation on withdraw of Cash at any limit from bank deposit account. RBI issued a notification on this relaxation on 28 November 2016. Full notification is as under.

It has been reported that certain depositors are hesitating to deposit their monies into bank accounts in view of the current limits on cash withdrawals from accounts.

2. As it is impeding active circulation of currency notes, it has been decided, on careful consideration, to allow withdrawals of deposits made in current legal tender notes on or after November 29, 2016 beyond the current limits; preferably, available higher denominations bank notes of  Rs. 2000 and Rs. 500 are to be issued for such withdrawals.

Yours faithfully,
(P Vijaya Kumar)
Chief General Manager

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