PMJDY accounts cash withdrawal limit-Rs. 10000/- per month for fully KYC complaint account and Rs. 5000/- for Limited or Non KYC compliant account-RBI
Reserve Bank of India
Accounts under PMJDY – Precautions
RBI/2016-17/165
DCM (Plg) No. 1450/10.27.00/2016-17
November 29, 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/ District Central Cooperative Banks
Dear Sir,
Accounts under PMJDY – Precautions
Please refer to our circular DCM (Plg) No.1424/10.27.00/2016-16 dated November 25, 2016 on “Withdrawal of cash – Weekly limit”. With a view to protect the innocent farmers and rural account holders of PMJDY from activities of money launders and legal consequences under the Benami Property Transaction & Money Laundering laws, it has been decided to place certain limits, as a matter of precaution, on the operations in the PMJDY accounts funded through deposits of Specified Bank Notes (SBNs) after November 09, 2016. As a temporary measure, the banks are advised to observe the following in respect of the PMJDY accounts:
Yours faithfully,
(P Vijaya Kumar)
Chief General Manager
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