No queuing up for cash, a day before ATM curbs to lift

The apex bank announced on Monday that withdrawal restrictions for ATMs will be eased from Feb 1

There were no queues outside most ATMs in Delhi and Noida on Tuesday morning, a day before curbs on withdrawals are set to be lifted by the Reserve Bank of India (RBI).

People could withdraw money with ease from ATMs at Preet Vihar, Parliament Street and Noida Sector 16 without standing in a queue.

However, they could withdraw only up to Rs 10,000 as per the limit set by the RBI.

The apex bank announced on Monday that withdrawal restrictions for ATMs will be lifted from Wednesday. Curbs on savings bank accounts across the counter will, however, remain.

The curbs on withdrawals from current accounts, cash credit accounts and overdraft accounts were lifted on Monday.

The limits were placed following the November 8 demonetisation of Rs 1,000 and Rs 500 currency notes. The upper limit at ATMs was Rs 2,500 initially, and later it was raised to Rs 4,500.

Earlier this month, the RBI hiked the daily withdrawal limit from Rs 4,500 to Rs 10,000 and doubled the weekly Current Accounts withdrawal limit to Rs 1 lakh.

The upper limit for weekly withdrawal from bank accounts was raised to Rs 24,000 from Rs 20,000 in November.