RBI doubles POS cash withdrawal limits

The Reserve Bank of India (RBI) has doubled the limit for cash withdrawal at point-of-sale (POS) in Tier III to VI centres from Rs 1000 to Rs 2000 a day. This  will be available for debit cards and open system prepaid cards issued only by banks. RBI said the enhanced amount will add to customer convenience and aid re-cycling of cash in these centres.