Give it a thought before taking cash from ATMs
Posted on: 06/Jan/2017 5:57:04 PM
Please keep a count on how many times you have drawn cash from ATMs this month.
You may ask why. This caution is required because the regulations on drawing cash from ATMs have been rendered effective again from 7th January.
After the demonetization announcement that the currency notes of the old Rs. 500 and Rs. 1000 are invalid, a restriction was effected that only a maximum cash of up to Rs. 2500 – later amended to Rs. 4500 – per day from an account.
At the same time, for the relief of the public, the restrictions (number of times of drawing cash in a month) on using ATMs were relaxed.
However, this facility was over on 31st December.So, from 1st January, cash can be drawn from the ATMs only 5 times (from the bank where savings account is kept) and 3 times from other banks.
If cash is withdrawn exceeding the above limit, an amount of Rs. 20 will be taken from your credit every time you take money after crossing the limit.So, the persons who have the necessity to draw more money are better advised to go for digital payment transactions. Also, it is better to get into the mode of internet payment (net banking) for paying the electricity bills, LPG cooking gas cylinder bill, etc.
Otherwise, it is better to go to the bank of your account to withdraw the required cash.
