Now, you can swipe your debit card to withdraw money from specified merchants for free. The daily cash withdrawal limit for cities was Rs 1,000, while it stood at Rs 2,000 for smaller towns. The RBI announcement follows the State Bank of India’s tie-up with designated state-run petrol pumps to allow people to swipe their cards at these pumps to pick up money. The RBI had enabled cash withdrawal at point of sale for debit cards in July 2009. In September, this facility was extended to pre-paid cards issued by the banks.

Source: Hindustan Times November 18, 2016 17:03 UTC