1000
and 500 notes ban – Last date for Pensioner life certificate extended –
Measure taken by Govt to provide a relief to senior citizens as well as
banks who are under enormous work pressure
Reserve Bank of India Circular on
Revision in limits of cash withdrawal and extending last date for
producing Pensioner life certificate
RBI/2016-17/129
DCM (Plg) No.1272/10.27.00/2016-17
November
13, 2016
The Chairman / Managing
Director/Chief Executive Officer,
Public Sector Banks / Private Sector
Banks/ Private Sector Banks/ Foreign Banks
Regional Rural Banks / Urban
Co-operative Banks / State Co-operative Banks
Dear Sir,
Withdrawal of Legal Tender Character
of existing ₹ 500/- and ₹ 1000/- Bank Notes – Revision in limits
Please refer to our Circular
No.DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 on the
captioned subject. On a review, certain modifications have been brought in the
limits which are as under:
i.
The limit for exchange of Specified
Bank Notes, over the counter has been increased from the existing ₹ 4000/- to ₹
4500.
ii.
The daily limit on withdrawal from
ATMs has been increased from the existing ₹ 2000/- to ₹ 2500/- per day in the
recalibrated ATMs, other ATMs will continue to dispense ₹ 50 and ₹ 100 bank
notes until they are re-calibrated.
iii.
The weekly limit of ₹ 20000/- for
withdrawal from bank accounts has been increased to ₹ 24000 and the daily limit
of ₹ 10000/- per day stands withdrawn.
2. 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 upto January 15, 2017.
3. Banks are advised to make
arrangements for separate queues for Senior citizens and Divyang (disabled)
persons. Similarly, separate queues should also be arranged for those who come
to exchange SBN for cash and those who come to deposit into bank accounts.
4. Banks are advised to increase the
Business Correspondents’ limit of dispensing cash to ₹ 2500/- for withdrawal
from bank accounts.
5. The above modifications take
immediate effect.
6. Please acknowledge receipt.
Yours faithfully,
(P Vijaya Kumar)
Chief General Manager
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