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RBI/2016-17/124
DCM (Plg) No.1256/10.27.00/2016-17
November 11, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/
Regional Rural Banks / Urban Cooperative Banks/
State Cooperative Banks
Dear Sir
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes –Limit for Withdrawal of Cash
Please refer to our circular DCM (Plg) No.1251/10.27.00/2016-17 November 10, 2016 on the captioned subject and see the following additional instructions in this regard:
2. Governments Departments may be allowed to draw cash beyond the stipulated limit of ₹ 10,000/-, in exceptional cases, only on production of evidence justifying their cash requirements in writing, at the discretion of an officer in the rank of General Manager and above.
Yours faithfully
(P Vijaya Kumar)
Chief General Manager
Note:
On 10/11/2016 RBI had exempted the following categories from limit of cash withdrawal from a bank account:
- one bank from another bank,
- Post Office,
- Money changers operating at International airports and
- operators of White Label ATMs.
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