Withdrawal of Legal Tender Character of existing ? 500/- and ? 1000/- Bank Notes – Revision in limits

RBI/2016-17/141
DCM (Plg) No.1304/10.27.00/2016-17

November 20, 2016

The Chairman / Managing Director/Chief Executive Officer,
Public Sector Banks / Private Sector Banks/ Private Sector Banks/ Foreign Banks
Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks/ District Central Co-operative Banks

Dear Sir,

Withdrawal of Legal Tender Character of existing ? 500/- and ? 1000/- Bank Notes – Revision in limits

Please refer to Para 1 (ii) of our circular DCM (Plg) No. 1272/10.27.00/2016-17 dated November 13, 2016 in terms of which the daily limit of withdrawal from recalibrated ATMs was increased from ? 2000/- to ? 2500/- per day while retaining the same at ? 2000 in case of other ATMs which banks until they are re-calibrated.

2. Recalibration of ATMs is being closely monitored and substantial progress has been made. On a review it has been decided to retain the limits unchanged till further instructions. Banks may continue to dispense ? 50 and ? 100 bank notes through the non –recalibrated ATMs until they are re-calibrated.

3. Please acknowledge receipt.

Yours faithfully,

(Suman Ray)
General Manager

 

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