Good News on Demonetisation, RBI extends withdrawal limits

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New Delhi, 29 November: In an major relief for the common man, the Reserve Bank of India (RBI) on Tuesday extended the withdrawal limit of cash from bank deposit accounts. 

In a statement, the RBI said that such a decision has been made as certain depositors are hesitating to deposit their monies in to bank accounts in view of the current limits on cash withdrawals from accounts. 

"As it is impeding active circulation of currency notes, it has been decided, on careful consideration, to allow withdrawals of deposits made current legal tender notes on or after November 29, 2016 beyond the current limits; preferably, available higher denominations bank notes of 2000 and ? 500 are to be issued for such withdrawals," the statement said.

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News Hero: Good News on Demonetisation, RBI extends withdrawal limits
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