Withdrawal of cash from bank deposit accounts – Relaxation


Withdrawal of cash from bank deposit accounts – Relaxation

Withdrawal of cash from bank deposit accounts – Relaxation
 

RBI/2016-17/163DCM.No.1437/10.27.00/2016-17                                          
November 28, 2016
 

The Chairman / Managing Director/ Chief Executive Officer,

Public Sector Banks/ Private Sector Banks / Foreign Banks /

Regional Rural Banks / Urban Cooperative Banks/

State Cooperative Banks/ District Central Cooperative Banks

Dear Sir,

 Withdrawal of cash from bank deposit accounts – Relaxation
 

        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.
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Yours faithfully,
(P Vijaya Kumar)
Chief General Manager

Source: www.rbi.org.in

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