Withdrawal limits at banks, ATMs raised; new Rs 500 notes launched

Withdrawal limits at banks, ATMs raised, new Rs 500 notes launched

Within hours of launching the new Rs. 500 notes on Sunday,
the government increased the daily limit of withdrawal from ATMs from Rs. 2000 to Rs. 2500
and exchange limit from Rs. 4,000 to Rs. 4,500. Prime Minister Narendra Modi held a meeting
to review the withdrawal of Rs. 500 and Rs. 1000 notes that was announced on Tuesday
 in a bid to root out black money. Union minister Arun Jaitley
and the Deputy Governor of the Reserve Bank of India attended the meeting.

1. The Finance Ministry Has Asked The Banks 2 Remove The Daily Withdrawal Limit Of Rs. 10,000 & Increase The Weekly Withdrawal Limit Of Rs. 20,000 To Rs. 24,000, So That The Entire Amount Can Be Withdrawn At One Time By Cheque. The Banks Have Also Been Advised To Make Arrangements For Separate Queues For Senior Citizens And People With Disabilities.

2. After Sunday's Late Night Cabinet Meting - Headed By PM_Modi - The Limit For Exempted Transactions Was Extended Till November 24 Midnight. Old Rs. 500 and 1,000 Notes Will Be Accepted At Government Hospitals, Petrol Pumps And Toll Booths Till November 24, Economic Affairs Secretary Shaktikanta Das Said.

3. PM Modi on Sunday said the nation had elected him to fight corruption and he was ready to do even though he faced a threat to his life. "I know the forces up against me, they may not let me live... They May Ruin Me Because Their Loot Of 70 Years Is In Trouble, But Am Prepared," He Said At A Function In Goa.  

4. The Congress said PM Modi had insulted the people who are standing in queues. "Wage earners, farmers, weavers, construction workers... PM has said all these millions of Indians are scamsters. The PM should give up theatrics and think hard how to improve the country's direction," said party spokesperson Anand Sharma.

5. The Reserve Bank of India has urged people to not withdraw cash repeatedly and hoard it. Much to people's dismay, only 60 per cent of ATMs got currency feed five days after PM Modi announced the surprise scrapping of notes. Of the 2 lakh ATMs across the nation, 1.2 lakh are running but they are out of cash within a few hours.

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