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Daily cash withdrawal limit reduced to prevent frauds: SBI MD

ANI  |  New Delhi [India] 

P K Gupta, (MD) of the of India (SBI), on Monday said that the step to reduce the per day cash withdrawal for all Classic and holders to Rs 20,000 has been taken for fraud prevention.

"We have taken this step for fraud prevention. A customer who wants to withdraw an amount higher than Rs 20,000 can take a card with a higher from the bank," said. Last month, SBI had reduced the per day cash withdrawal for all Classic and holders from Rs 40,000 to Rs 20,000.

"Daily cash withdrawal limit for Classic and reduced from Rs 40,000 to Rs 20,000 per day with effect from October 31, 2018. If you require higher daily cash withdrawal limit, please apply for a higher card variant," read a statement from the The decision was taken reportedly by the to curb increasing instances of frauds.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 12 2018. 17:50 IST
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