2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 10, 000
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Rs. 5, 000
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Rs. 4, 500
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Rs. 3, 500
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Detailed explanation-1: -January 1, 2017: Cash withdrawal limit from ATMs increased to Rs 4500. January 30: Cash withdrawal limits removed from current accounts. February 20: Cash withdrawal limit relaxed to Rs 50, 000 from savings account. March 13: All limits from ATM withdrawals removed.
Detailed explanation-2: -The limit for maximum withdrawal from ATMs differs from bank to bank. Most banks allow you to withdraw anything from INR 20, 000 to INR 50, 000 per day from an ATM.
Detailed explanation-3: -Many banks reset the clock at midnight every day, including weekends. 7 It’s less common for banks to require a 24-hour waiting period.
Detailed explanation-4: -The RBI, in June last year, allowed banks to charge up to Rs 21 per transaction at the ATM (Automated Teller Machine) above the monthly free transaction limit, effective from January 1, 2022. Usually, banks offers five free transactions at the ATMs every month. Any transaction after that is chargeable.