New Delhi: With banks struggling to cope with the panicked rush of people to get alternative currency, the Center has eased key restrictions and raised daily withdrawal limit from bank accounts and ATMs.
Here are the key points:
» Parking charges at airports waived off till 21st of November
» Banks to put indelible ink on people withdrawing money to avoid multiple exchanges
» RBI directed banks to waive ATM charges on all transactions done by savings bank customers till December 30. The waiver is applicable on transactions done at ATMs from November 10 till December 30, 2016.
» Supply of cash to 1.3 lakh branch post offices will be enhanced
» Banks to increase cash holding limit of banking correspondents to Rs 50,000
» ATMs will start dispensing higher denomination currency of Rs 2,000 from Tuesday
» Extended use of defunct Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees and purchases from co-operative stores like Kendriya Bhandar with valid ID proof till November 24
» Old Rs 500 and Rs 1,000 notes can be used at government hospitals, railway ticketing, public transport, airline ticketing at airports, milk booths, crematoria/burial grounds, petrol pumps, metro railways, highway and road toll, purchase of medicines on doctor prescription from the government and private pharmacies, LPG gas cylinders, railway catering, electricity and water bills and ASI monument entry tickets, till November 24
» No toll would be charged on National Highways till the midnight of November 18
» ATM withdrawal limit increased from Rs 2,000 to Rs 2,500 per day
» Over the counter cash exchange limit raised from existing Rs 4,000 to Rs 4,500
» Weekly limit of Rs 20,000 for withdrawal from bank accounts increased to Rs 24,000
» Limit of Rs 10,000 per day removed
» A large number of micro-ATMs to be deployed
» Higher cash withdrawal limit of Rs 2,500 only for recalibrated ATMs
» RBI said that enough cash is available in system and that there is no need for panic; situation will ease in coming days: DEA secretary
» All banks have been advised to arrange mobile banking vans at major hospitals for emergency banking transactions
» Separate queues to be arranged for exchange of cash-to-cash and transactions against bank accounts
» Separate queues for senior citizens and differently abled persons
(With agency inputs)