The daily withdrawal limit has been increased from Rs 2,500 to Rs 4,500 by Reserve Bank of India. The new limit will be applicable from January 1, 2017.
However, there is no change in weekly withdrawal limits and RBI has strictly adhered to Rs 24,000 per week. Such disbursals should predominantly be in the denomination of Rs 500.
"On a review of the position, the daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 01, 2017, from the existing Rs 2500/- to Rs 4500/- per day per card. There is no change in weekly withdrawal limits. Such disbursals should predominantly be in the denomination of Rs 500," said RBI in a statement.