CURRENT AFFAIRS

2020

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The Reserve Bank of India raised the withdrawal limit from Punjab and Maharashtra Cooperative Bank to how much Rs from Rs 50, 000?
A
Rs 5 lakh
B
Rs 1 lakh
C
Rs 2 lakh
D
Rs 75000
Explanation: 

Detailed explanation-1: -The Reserve Bank of India, after reviewing the bank’s liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to ₹ 50, 000/- (Rupees Fifty Thousand only), inclusive of ₹ 40, 000 allowed earlier.

Detailed explanation-2: -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.

Detailed explanation-3: -The withdrawal request can be initiated for a minimum of Rs 100 per transaction and a maximum of Rs 10, 000 per day or Rs 25, 000 per month as per regulatory guidelines.

Detailed explanation-4: -50, 000 and above only by debit to customers’ accounts or against cheques and not against cash (Circular DBOD. BP.

There is 1 question to complete.