All Cash Withdrawal Limits Go Back to Pre-Demonetisation Era

In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000.

All limits on savings bank cash withdrawals post-demonetisation ended on Monday.

In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000, with effect from 20 February, and all limits on ATM withdrawals were slated to cease from 13 March.

The announcement had been made by RBI Deputy Governor R Gandhi, following the fiscal's last monetary policy review announcement by the central bank in February, when it kept its key interest rate unchanged at 6.25 percent, saying it awaited data on the full impact of the government's demonetisation drive.

While lifting of ATM withdrawal limits represents coming full circle for these machines in respect of demonetisation, the return to normalcy in terms of cash available in them is still awaited, indicating the slow pace of remonetisation.