AMN
Following reports of people suffering in different parts of the country, Banks have been advised to increase the exchange limit over the counter from the existing Rs.4000/- to Rs.4500/-.
After reviewing the currency exchange, availability and distribution of various denominations going on
since November 10, the Ministry of Finance also advised banks to increase the Business Correspondents limit to Rs 2,500 for withdrawal from bank accounts.
Banks have also been advised to increase the Cash Withdrawal limit at ATMs from the existing Rs.2000/- to Rs.2500/- per day in the re calibrated ATMs, other ATMs will continue to dispense Rs.50/- and Rs.100/- notes until they are recalibrated.
The weekly limit of Rs.20,000/- for withdrawal from Bank accounts has been increased to Rs.24,000/-. The limit of Rs.10,000/- per day has been removed.
Banks have been advised to increase the issuance and use of mobile wallets and debit/credit cards as also to provide them to those customers and establishments not having access to these non-cash means of payment
The last date for submission of the annual life certificate for the Government Pensioners which is to be submitted in November every year has been extended up to January 15, 2017.
Banks have been advised to make arrangements for separate queues for Senior citizens and Divyang persons. Separate queues will also be arranged for exchange of cash to cash and transactions against Bank accounts.
Government of Arunachal Pradesh has made special arrangements like cash deposits /withdrawal and opening of new bank accounts in the remotely located areas with the help of Banks and State Government staff. State Governments have been requested to facilitate opening of new Bank accounts as a part of financial inclusion programme.
The issuance of the new series of Rs.500/- notes has already commenced.
Banks have been advised to increase the Business Correspondents limit of dispensing cash to Rs.2500/- for withdrawal from bank accounts.
What you need to know
— Limit of old notes that can be exchanged with new ones raised from Rs 4,000 to Rs 4,500 per day.
— Cash withdrawal limit at ATMs hiked to Rs 2,500 from Rs 2,000 per day.
— Weekly limit of Rs 20,000 for withdrawal from bank counters increased to Rs 24,000.
— Daily limit of Rs 10,000 for withdrawal at bank counters removed.xx