NOTABLE RELIEF: ALL CASH LIMITS TO BE REMOVED FROM MARCH 13

NEW DELHI: The Reserve Bank of India (RBI) said on Wednesday it would remove the cash withdrawal limit from ATMs and savings accounts from March 13.

Withdrawal limit from savings bank accounts will be relaxed to `50,000 from February 20 to March 13, after which it will be removed.

“The limits on cash withdrawal from savings bank accounts continue to be in place. In line with the pace of remonetisation, it has now been decided to remove these limits in two stages,” RBI deputy governor R Gandhi said after the central bank announced the sixth bi-monthly monetary policy review on Wednesday.

Several limits on cash withdrawals from banks and ATMs were imposed after the government’s surprise move to demonetise `500 and `1,000 currency notes on November 8, 2016 that led to severe cash crunch.

The central bank has kept pace with the remonetisation process by gradually relaxing the withdrawal limits. On January 30, RBI had allowed withdrawal upto `24,000 from savings accounts. This was preceded by the relaxation on January 16 when the limit was raised to `10,000 per day from `4,500. CONT’D ON PAGE 8 >>P2

CISF, the force responsible for security of airports in the country, has given a makeover to its staff posted at the entry gate of Delhi airport. They will now wear suits and ties (above) instead of standardissue uniforms (right). CISF HANDOUT/HT FILE