RBI increases ATM withdrawal limit to Rs 4,500 per day

In a big relief to common man, the Reserve Bank of India (RBI) increased ATM cash withdrawal limit to Rs 4,500 per day from the current Rs 2,500 with effect from 1 January 2017.

However weekly withdrawal limit remains unchanged at Rs 24,000 for common man and Rs 50,000 for small traders.

Friday was the last day to deposit old Rs 1000 and Rs 500 notes currency notes in banks. The person who has the scrapped notes can deposit only in the RBI counters till March 31, 2017.