HomeNews News RBI removes limit on cash withdrawal, banks go back to pre-demonetisation era RBI removes limit on cash withdrawal, banks go back to pre-demonetisation era

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RBI removes limit on cash withdrawal, banks go back to pre-demonetisation era

RBI removes limit on cash withdrawal, banks go back to pre-demonetisation era

Monday, March 13, 2017, 10:59 AM

The RBI on Monday lifted the limit on cash withdrawals from banks and ATMs. Earlier on November 8, last year, Prime Minister Narendra Modi had announced the much talked about demonetisation drive, banning the use of high denomination currencies i.e, Rs 500 and Rs 1000 notes. This a created a vacuum in the Indian economy as the replenishment could not be done immediately.
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