india to remove cash withdrawal limits
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

India to remove cash withdrawal limits

Arab Today, arab today

Arab Today, arab today India to remove cash withdrawal limits

Indian bank customers queue to try to withdraw money from an ATM Imphal
Mumbai , India - Arab Today

Limits on cash withdrawals will be removed entirely from March 13, India’s central bank said Wednesday, as it left interest rates on hold for the second time since a ban on high-value rupee notes.
The Reserve Bank of India capped cash withdrawals after Prime Minister Narendra Modi’s shock decision in November to take all 500 ($7.40) and 1,000 rupee notes out of circulation — 86 percent of the currency in the cash-reliant nation.
The ensuing cash crunch saw long queues outside banks and ATMs, which ran dry within hours and left many, especially in rural areas, without food or daily essentials.
The central bank partially lifted limits for certain accounts earlier this month, but not for customers holding the more widely used savings accounts.
In a statement Wednesday, the bank said withdrawal limits would be nearly doubled from 24,000 rupees to 50,000 from February 20 before “the complete cap be removed on 13th of March and there will be no limits to cash withdrawals.”

The bank also said it was leaving interest rates unchanged at 6.25 percent for the second time since November’s so-called “demonetization.”
The bank has been under pressure to cut rates to stimulate the economy amid fears the cash ban had slowed growth.
The benchmark repo rate — the level at which it lends to commercial banks — would remain steady, the bank also announced, after it was cut to 6.25 percent in October.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india to remove cash withdrawal limits india to remove cash withdrawal limits

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india to remove cash withdrawal limits india to remove cash withdrawal limits

 



GMT 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange

GMT 14:40 2012 Saturday ,10 March

Magdy Al-Galad steps down

GMT 09:47 2017 Sunday ,12 March

Cat Camp in New York attracts cat lovers

GMT 14:57 2016 Friday ,09 September

Madonna, Ritchie settle child custody dispute

GMT 23:52 2017 Monday ,18 September

UAE economic growth boosting logistics sector
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday