Wednesday, 18 January 2017

A Comment on increase in limits of cash draws by RBI

My Comment on an article "RBI raises ATM withdrawal limit to Rs.10,000 per day from current Rs.4,500" published in the Dated 17/01/2017.

"I think Rs.10,000 is enough for total cash transactions in a month. 

If you are allowing Rs.24,000 per week it is weird. It could be Rs.24,000 per a whole month at the best. 

We want digitalization and then allowing excessive cash outflow is not a good step. Our government or RBI shouldn't increase any more extra limits for cash draws either from ATM or from the banks for normal transactions. 

Only small traders can be allowed to draw more cash to disburse wages. Not otherwise." 

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