Withdrawals of deposits made in current legal tender allowed beyond current limits: RBI

New Delhi: In the latest notification, Reserve Bank of India (RBI) has allowed withdrawals of deposits made in current legal tender notes on or after November 29, 2016 beyond the current limits.
The notification has taken this step in wake of reports that certain depositors are hesitating to deposit their monies into bank accounts in view of the current limits on cash withdrawals from accounts.
Preferably, available higher denominations bank notes of ₹ 2000 and ₹ 500 are to be issued for such withdrawals.