<h1>RBI Issues Guidelines on Rs. 500 and Rs. 1,000 Note Withdrawal; Govt Departments Can Exceed Cash Limits with Approval.</h1> The Reserve Bank of India issued instructions to banks regarding the withdrawal of Rs. 500 and Rs. 1,000 banknotes as legal tender. Government departments may exceed the cash withdrawal limit of Rs. 10,000 in exceptional cases, provided they present written evidence justifying their cash needs. Such exceptions require the approval of an officer ranked General Manager or higher.