30/11/2016
Withdrawal
of cash from bank deposit accounts - Relaxation
RBI/2016-17/163
DCM.No.1437/10.27.00/2016-17
November 28, 2016
The Chairman / Managing Director/
Chief Executive Officer,
Public Sector Banks/ Private Sector
Banks / Foreign Banks /
Regional Rural Banks / Urban
Cooperative Banks/
State Cooperative Banks/ District
Central Cooperative Banks
Dear Sir,
Withdrawal of cash from bank deposit
accounts - Relaxation
It has been reported that certain
depositors are hesitating to deposit their money into bank accounts in view of
the current limits on cash withdrawals from accounts.
2. As it is impeding active
circulation of currency notes, it has been decided, on careful consideration,
to allow withdrawals of deposits made in current legal tender notes on or after
November 29, 2016 beyond the current limits; preferably, available higher denomination
bank notes of ₹ 2000 and ₹ 500 are to be issued for such withdrawals.
Yours
faithfully,
(P Vijaya
Kumar)
Chief General Manager