New Delhi, Oct 31 (KNN) The country's largest lender SBI has limited the daily cash withdrawal limit from ATMs for certain debit-card holders to Rs 20,000.

The SBI had put out the following message on its website: "Daily cash withdrawal limit for Classic and Maestro debit cards has been reduced from Rs 40,000 to Rs 20,000 per day with effect from October 31." 

"If you require higher daily cash withdrawal limit, please apply for a higher card variant," the message added.

According to a media report, mostly ATM transactions are less than Rs 20,000 a day.

This step has been taken in order to protect the customers from fraud.

State Bank of India (SBI) had alerted its customers holding Classic and Maestro debit cards about a month ago, regarding reduction of cash withdrawal limit to Rs 20,000 a day from ATM starting October 31.

The withdrawal limit has been curtailed on Classic and Maestro debit cards, held by a large number of the bank customers.

However, customers with other variants of SBI debit card can continue to enjoy higher daily withdrawal from ATMs.

The bank has lots of customers with higher variant debit card, so they are not impacted.