Holi bonanza: No cash withdrawal limit post March 13, announces RBI

New Delhi : Three months after Prime Minister Narendra Modi announced demonetisation of Indian currency notes of Rs 500 and Rs 1000, the Reserve Bank of India has announced removal of withdrawal limit in two phases.

Saving account holders will be allowed to withdraw upto Rs 50,000 from February 20 onwards; and from March 13, all withdrawal limits will go off.

However, this is only applicable on withdrawing money by visitng the branch of your bank.

On November 8, Prime Minister Narendra Modi had announced that Rs 500 and Rs 1000 old currency notes will no longer be a legal tender and all those who had such currency were requested to deposit into their bank accounts.