Daily Withdrawal Limit from ATMs Increased to Rs 4,500 Effective Jan 1

A notice is displayed on the gate of an ATM kiosk in Chandigarh. (Reuters)

New Delhi: In a late-night development, cash withdrawal limit from ATMs was increased from Rs 2,500 to Rs 4,500 effective January 1.

The government had so far resisted hiking the withdrawal limit as majority of the ATMs were yet to be recalibrated for dispensing new Rs 500 and Rs 2,000 notes.

After demonetising 500 and 1,000 rupee notes — which made up for 86 per cent of the total currency in circulation — the government had on November 8 set a cash withdrawal limit of Rs 2,000 per day from ATMs. This limit was to be raised to Rs 4,000 per day per card from November 19, 2016, but was revised to Rs 2,500 on November 15.