DCM (Plg) No. 2905/10.27.00/2016-17
Date: January 30, 2017
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 Co-operative Banks
Limits on Cash withdrawals from Bank accounts and ATMs – Restoration of status quo ante
Please refer to our circular DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 placing limits on Cash withdrawals from bank accounts and ATMs in the wake of withdrawal of Legal Tender Character of Specified Bank Notes (SBN) and subsequent circulars DCM (Plg) Nos. 1256, 1274, 1317, 1437, 2142 and 2559 dated November 11, 14, 21, 28, December 30, 2016 and January 16, 2017 respectively, providing for relief and relaxations therefrom.
2. On a review of the pace of remonitisation, it has been decided to partially restore status quo ante as under:
3. Further, banks are urged to encourage their constituents to sustain the movement towards digitisation of payments and switching over of payments from cash mode to non-cash mode.
4. Please acknowledge receipt.
(P Vijaya Kumar)
Chief General Manager