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REFILE-India cenbank to lift all cash withdrawal limits from March 13
February 8, 2017 / 9:53 AM / 7 months ago

REFILE-India cenbank to lift all cash withdrawal limits from March 13

(Corrects day in second paragraph to Wednesday from Tuesday))

MUMBAI, Feb 8 (Reuters) - India’s central bank said it would remove the cash withdrawal limit from automated teller machines (ATMs) and savings accounts from March 13.

The cash withdrawal limit from savings bank accounts will be relaxed to 50,000 Indian rupees ($743.27) a week between Feb. 28 and March 13, after which it will be removed, Reserve Bank of India Deputy Governor R. Gandhi said after a monetary policy meeting on Wednesday.

The RBI had imposed the limits in November after the government announced a ban on old high-value currency notes, and began to replace them with new notes. ($1 = 67.2700 Indian rupees) (Reporting by Abhirup Roy; Editing by Euan Rocha; Editing by Kim Coghill)

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