RBI/2016-17/163
DCM.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 ? 2000 and ? 500
are to be issued for such withdrawals.
Yours faithfully,
(P Vijaya Kumar)
Chief General Manager
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