MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 14th November, 2016

S.O. 3449(E).-In exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby further amends the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs number S.O. 3407(E) dated the 8th November, 2016 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 8th November, 2016, namely:-

1. In the said notification, in paragraph 2,-

(a) in clause (vi), the words, letters and figures “until the end of business hours on 24th November, 2016, after which these limits shall be reviewed” shall be omitted;

(b) after clause (vi), the following proviso shall be inserted, namely:-

“Provided that cash withdrawal from a current account, which is in operation during the last three months or more, shall be restricted to ₹ 50,000/- a week.”;

(c) in clause (viii), the words, letters and figures “and the limit shall be raised to ₹ 4000/- per day per card from 19th November, 2016” shall be omitted.

[F. No. 10/03/2016-Cy. I]

Dr. SAURABH GARG, Jt. Secy.

Current account cash withdrawal limit restricted to a weekly ceiling for accounts operational three months or more. The amendment removes a prior temporal expiry and inserts a proviso restricting cash withdrawal from a current account in operation for three months or more to Rs. 50,000/- a week, and omits language that would have raised the per card daily ATM withdrawal limit.