Free Demo Request

Withdrawal of Legal Tender Character of Specified Bank Notes – Cash Withdrawal Limit

RBI/2016-17/142
DCM (Plg) No.1317/10.27.00/2016-17

November 21, 2016

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

Dear Sir,

Withdrawal of Legal Tender Character of Specified Bank Notes – 
Cash Withdrawal Limit

Please refer to Para (i) – Additional Facilities of our Circular No. DCM (Plg) No.1274/10.27.00/2016-17 dated November 14, 2016 in terms of which current account holders (applicable to Current Accounts which are operational for last three months or more) were allowed to withdraw up to ? 50000 in cash, in a week. On a review, it has been decided to extend this facility to Overdraft and Cash Credit accounts also. Accordingly, holders of current / overdraft / cash credit accounts, which are operational for the last three months or more, may now withdraw upto ? 50000 in cash, in a week. This enhanced limit for weekly withdrawal is not applicable for personal overdraft accounts.

2. Such withdrawals may be disbursed predominantly in ? 2000 denomination bank notes.

Yours faithfully,

(Suman Ray)
General Manager

 

High-volume of Loyal
and Trusted Customers!

We pride ourselves in offering our customers the most veriety of products from the best leading brands in the industry:

BCG Binani
Godrej
Induslnd Bank
Indian Oil
ITC Limited
Jindal Steel Power
Milton
Paharpur
Philips
Reliance
TATA Chemicals Limited
The Times of India
Wipro
Yamaha
Dalmia Bharat Cement
JCB
Pernod Ricard