RBI likely to continue per week withdrawal limit for few more weeks

Mumbai, Jan 25 (KNN) With the speculations that the Reserve Bank of India (RBI) might continue with cash withdrawal limit of Rs 24,000 per week for another three weeks to a month, the All India Bank Officers' Association (AIBOA) said these are the reasons why the banks have been forced to go on strike.

“Such attitude of RBI and unplanned system of government coerced us to go on strike, as even after two months withdrawal limits has tightened the public”, said S.Nagrajan, general secretary, AIBOA.

Though RBI has increased the withdrawal limit at the ATMs thrice since demonetization, the weekly limit has been maintained at Rs 24,000.

However the daily withdrawal limit at the ATMs after a detailed analysis of transaction patterns and payment modes is likely to be doubled, a media report quoted government official as saying.

After the announcement of demonetization of higher currency notes by the Prime Minister on November 8, the discussion over demonetization has only escalated with time. (KNN)