Amid unending queues of cash-starved citizens at banks and relentless attacks by the opposition, the government on Sunday announced an increase in withdrawal limits at banks and ATMs. The Centre also urged the states to “facilitate the opening of new bank accounts” and last-mile distribution of small denomination notes as it announced that the new Rs 500 note had been issued.
Here is everything you might have missed over the weekend:
Daily withdrawal amount raised: The daily withdrawal from ATMs has now been hiked to Rs 2,500 from Rs 2,000 and from bank counters to Rs 4,500 from Rs 4,000. The limit of Rs 10,000 per day withdrawal has been removed.
The upper limit for weekly withdrawals from bank accounts has been raised to Rs 24,000 from Rs 20,000.