SOON, DAILY ATM WITH­DRAWALS LIMIT MAY BE UPPED TO 24K

Hindustan Times ST (Mumbai) - Live - - FRONT PAGE - Mahua Venkatesh

NEW DELHI: The gov­ern­ment might al­low peo­ple to with­draw their week­lylim­itof Rs24,000inas­in­gle ATM­trans­ac­tion,mul­ti­ple­sources toldHT,as­the­cashcrunchshowed signs of eas­ing nearly three months af­ter de­mon­eti­sa­tion.

The sin­gle-trans­ac­tion rule could be im­ple­mented within a fort­night. How­ever, the weekly limit of Rs 24,000 is likely to be kep­tun­changedtil­lFe­bru­ary-end, highly-placed sources said.

The gov­ern­ment re­called 500 and 1000-ru­pee ban­knotes on Novem­ber 8 in a shock an­nounce­ment that sucked out 86% of the cur­rency in cir­cu­la­tion, spark­ing a se­vere cash crunch and panic among bil­lions of In­di­ans.

At­p­re­sent,cus­tomer­scan­with­draw Rs 24,000 in a week though the sin­gle-day ATM limit is set at Rs 10,000. Banks, how­ever, al­low the en­tire amount to be with­drawn in a sin­gle trans­ac­tion.

Sources said that with the sit­u­a­tion eas­ing, cus­tomers are now with­draw­ing around Rs 3,500 in a sin­gle trans­ac­tion, which has left theATMswith­ex­tra­cash.Sources said the RBI, which is mon­i­tor­ing thep­at­ter­non­cash­with­drawa­land sup­ply, will take a de­ci­sion soon.

“The sit­u­a­tion has be­come al­most­nor­mal,theav­er­age­foot­fall atanATMhas­come­dow­nandthe de­mand for cash is also nor­mal­is­ing,”Ri­tu­ra­jSinha,pres­i­dent,Cash Lo­gis­tics As­so­ci­a­tion, told HT.

Cash in­jec­tion into ATMs has also fur­ther in­creased in the last five days, he said. On an av­er­age, about Rs 12,000 crore is be­ing pro­vided for fill­ing up the coun­try’s 2.2 lakh ATMs com­pared to about Rs13,000crore­be­foreNovem­ber 8.

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