Mamata asks Modi – why are there still restrictions on cash withdrawal? :- On Saturday, the chief minister of West Bengal – Mamata Banerjee attacked on Prime Minister Narendra Modi asking why there were still restrictions on withdrawal even after the 50-day deadline was over.
Banerjee said that Modi Babu, public are not beggars of your Government. 50 days of demonetisation are now over, then why are there still restrictions on cash withdrawal? How can you take away the rights of citizens to withdraw their own hard-earned money?
The RBI refused to remove the weekly withdrawal limit from banks and only increased the daily withdrawal limit from ATMs to Rs 4,500 from Rs 2500.
In a notification, RBI said that the daily limit of withdrawal from ATMs has been increased with effect from 1st January, 2017, from the existing Rs 2,500 to Rs 4,500 per day per card.
In a notification, the RBI further stated that there is no change in weekly withdrawal limits and such disbursals should predominantly be in the denomination of Rs 500.