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Demoneization: Why are there restrictions on cash withdrawal? Mamata to Modi

Questioning the restrictions imposed on cash withdrawal, West Bengal Chief Minister Mamata Banerjee on Saturday said the government cannot simply “snatch away” economic rights of the people.

“Modi Babu, public are not beggars. Why are there still restrictions on cash withdrawal?,” Banerjee asked in a statement. “Fifty days are now over. How can you take away the rights of citizens to withdraw their own hard-earned money? A government just cannot snatch away people’s economic rights,” she said.

The Reserve Bank of India said last night that cash withdrawal limit from ATMs would be increased to Rs 4,500 per day from the current Rs 2,500 from January 1.

There has been no change in the weekly withdrawal limit, which stands at Rs 24,000, including from ATM, for individuals and Rs 50,000 for small traders.