Following expiry of the deadline to deposit demonetised currency in banks, the RBI on Friday relaxed the daily ATM withdrawal limit to Rs 4,500 from the earlier cap of Rs 2,500, with this facility, to be effective from January 1, coming as a new year gift to citizens.
Earlier in the day, Prime Minister Narendra Modi launched a new mobile app called BHIM to enable fast, secure and reliable payments system that uses smartphones for cashless transactions.
The application has been named after Dalit icon Bhim Rao Ambedkar.
Meanwhile, Prime Minister Narendra Modi is set to address the nation on Saturday.
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Dec 31, 2016 9:15 am (IST)
The central bank also asked banks to ensure that disbursals on ATMs should predominantly be in the denomination of Rs 500.
Dec 31, 2016 9:13 am (IST)
There has been no change in the weekly withdrawal limit, which stands at Rs 24,000
Dec 31, 2016 9:13 am (IST)
RBI on Friday relaxed the daily ATM withdrawal limit to Rs 4,500 from the earlier cap of Rs 2,500, effective from January 1