RBI keeps withdrawal limits at ATMs at Rs2,500 and Rs2,000

The Reserve Bank of India (RBI) has retained the daily limit for cash withdrawals through bank's own ATMs at the revised level of Rs2,500 per card, in view of the delay in the calibration of all ATMs for dispensing the new Rs2,000 notes.

RBI had on 17 November increased the daily withdrawal limit, imposed in the wake of demonetisation of all Rs500 and Rs1,000 notes, from Rs2,000 to Rs2,500 at bank's ATMs while retaining it at Rs2,000 in case of other ATMs until they are re-calibrated.

''Recalibration of ATMs is being closely monitored and substantial progress has been made. On a review it has been decided to retain the limits unchanged till further instructions,'' RBI stated in a relese issued on Sunday.

Meanwhile, RBI has asked banks to continue dispensing Rs50 and Rs100 bank notes through the non-recalibrated ATMs until they are re-calibrated.

RBI had, in a circular dated 14 November 2016, directed banks to waive levy of ATM charges for all transactions by savings bank customers done at all ATMs, from 10 November till 30 December 2016, subject to review.

The cash withdrawal facility at POS (for debit cards and open system prepaid cards issued by banks in India) has been made uniform at Rs2,000 per day across all centres for all merchant establishments enabled for this facility and customer charges, if any, will not be levied on all such transactions till 30 December.

Meanwhile, there has been some respite from the long queues at ATMs two weeks after the announcement of demonetisation of high-value currency notes.

While ATMs are replenished regularly with lower denomination notes like Rs100, Rs50 and Rs20, the absence of higher value notes and the daily limit is still making people queue up at ATMs almost on a daily basis.

Things are expected to be much better next week as RBI has stepped up supply of high value notes and more ATMs get calibrated to handle the new Rs2,000 notes, says State Bank of India chairman Arundhati Bhattacharya.