India removes cap on cash withdrawals
India has removed the cap on cash withdrawals from current accounts, although it will continue to limit weekly withdrawals from savings accounts to Rs24,000.
The Reserve Bank of India has confirmed that the limit on withdrawals from cash machines will be removed from tomorrow.
The caps were imposed last November when the government suddenly withdrew 500 and 1,000 rupee notes from circulation to crackdown on corruption.
The move sparked a cash shortage as together the two notes accounted for 86% of India’s currency in circulation, forcing banks to limit how much customers could withdraw.
"On a review of the pace of remonetisation, it has been decided to partially restore status quo ante," said RBI yesterday.
"The limits placed on cash withdrawals from current accounts/cash credit accounts/overdraft accounts also stands withdrawn with immediate effect."
However, the central bank has warned that individual banks might have their own operating limits.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Hands In, UATP join forces for airline multi-card payments
Suspension of all regional trains in Catalonia following two new rail accidents in Spain