All bank withdrawal restrictions will be removed at any moment
Posted on: 04/Feb/2017 12:15:39 PM
Prime Minister Narendra Modi demonetized the Rs 1000 and Rs 500 notes on 8th November. In continuation of this, time was given to exchange the invalid notes in the banks. At the same time, many restrictions were imposed on withdrawal of cash. New 2000 and 500 currencies were printed and put into circulation. Slowly the restrictions were also dispensed. The restrictions on withdrawal of cash in banks and ATMs were removed. At the same time, there were restrictions that savings account holders were allowed to withdraw only Rs 24000 per week.
At this juncture, on behalf of the central government, Economic Affairs Secretary Shaktikanta Das spoke to the media. He said: Almost all the restrictions in the withdrawal of cash have been dispensed except the withdrawal limit of Rs 24,000 a week for savings bank accounts. This restriction will also be lifted any moment. Very few withdraw Rs 24000 per week. Multiplied by four, this works out to almost Rs 1 lakh a month. If you see practically there is no restriction at all. In that way after the demonetization, now the government is in the process of rectifying this by circulating new currencies. All the restrictions have almost come to an end except the withdrawal limit of Rs 24,000 a week for savings bank account. This will also be removed any time.
