The Chairman and Managing
Director / Chief Executive Officers
All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /
State Co-operative Banks / District Central Co-operative Banks /
All Card Network Providers
Dear Madam / Sir,
Cash Withdrawal at Point-of-Sale
(POS) - Withdrawal limits and customer fee/charges - Relaxation
A reference is invited to our
dated July 22, 2009, DPSS.CO.PD.No.563/02.14.003/2013-14
dated September 5, 2013 and DPSS.CO.PD.No.449/02.14.003/2015-16
dated August 27, 2015 on cash withdrawal at Point of Sale (POS)
enabled for all debit cards/open loop prepaid cards issued by banks with
specified per day value limits for different locations.
2. Following the withdrawal of
legal tender characteristics of existing ? 500/- and ? 1000/- Bank Notes
(Specified Bank Notes – SBN), the Reserve Bank of India had advised banks,
DPSS.CO.PD.No.1240/02.10.004/2016-2017 dated November 14, 2016, to
waive levy of ATM charges for all transactions by savings bank customers
done at all ATMs, from November 10, 2016 till December 30, 2016, subject to
3. As another customer-centric
measure, it has been decided that (i) the limit for cash withdrawal at POS
(for debit cards and open system prepaid cards issued by banks in India)
has been made uniform at ? 2000/- per day across all centres (Tier I to VI)
for all merchant establishments enabled for this facility and (ii) customer
charges, if any, shall not be levied on all such transactions.
4. The above shall come into
effect from the date of this circular and shall be applicable till December
30, 2016, subject to review.
5. All other extant instructions
in this regard shall remain unchanged.
6. The directive is issued under
Section 10(2) read with Section 18 of Payment and Settlement Systems Act
2007, (Act 51 of 2007).
(Nanda S Dave)