Withdrawal cap to go from March 13: RBI

From Feb 20, withdraw up to Rs 50,000 a week from your savings account

The Reserve Bank of India (RBI) on Wednesday said restrictions on cash withdrawal from savings accounts would be lifted by March 13, in two phases, considering the current pace of remonetisation. 

From February 20, the limits on cash withdrawals from savings bank accounts would be increased to Rs 50,000 a week, and from March 13, there would be no limits on cash withdrawals. The current limit is Rs 24,000 a week. 

The central bank, on February 1, lifted the cap on withdrawal from cash-vending machines, provided it was within the weekly limit. The restrictions were put in place after the government scrapped