demonetisation move on November 8 last year +RBI pumped new currency notes +NEW DELHI: The Reserve Bank of India on Monday announced that the limits placed on cash withdrawals from ATMs stand withdrawn from February 1. "On a review of the pace of remonetisation, it has been decided to partially restore status quo ante," RBI said adding, cash withdrawal limit from ATMs stands withdrawn from February 1, 2017.At present, the daily limit on cash withdrawals from ATMs is Rs 10,000.The limits placed on cash withdrawals from current accounts/ cash credit accounts/ overdraft accounts also stand withdrawn with immediate effect, the RBI has said.However, restrictions on withdrawal of Rs 24,000 a week from savings bank account will continue for now.The central bank has said that the banks may at their discretion have their own operating limits.It further said that banks have been "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. "When the government had announced, it had capped the daily withdrawal limit.This was subsequently eased as theinto the system.

Source: Times of India January 30, 2017 11:59 UTC