Reserve Bank of India (RBI), now further classify the limits for the withdrawal of new currency after demonetization. After the decision of Demonetization on 8th November 2016, RBI is continuously issuing the regulations for the exchange, deposit and withdrawal of the currency. RBI had announced today that KYC (Know Your Customer), complaint holder can now withdraw new currency from their respective accounts up to Rs 10,000.
After the step of Demonetization by Indian PM Narendra Modi, the old currency notes of Rs.500 and Rs.1000 had become invalid tender. The RBI had first change the exchange limit and then tells that people will now not allowed to exchange their old currency. They can only deposit the old currency to their respective bank account and can withdraw the new currency as well.
Today the RBI further issue the notification that Jan Dhan Account holder who had a proper complaint of KYC can withdraw Rs 10,000 in a month. Besides this, the NON-KYC customer is allowed to withdraw Rs. 5000 from their respective bank accounts now. RBI further added that if NON-KYC customer had some valid reason and show the valid proof for that can allow to withdraw the money up to Rs 10,000 per month.
The biggest change of demonetization can be seen on the net balance of PM Jan Dhan Yojana, which had now get increase up to 60%. The scheme was started in August 2016 and till December 2015 it was showing a net balance of Rs 27,283.05 crore. But after the demonetization, the net balance of Jan Dhan Yojana has grown up to Rs 72,834.72 crore. Keeping in view that the black money holder can misuse these accounts holders, RBI had issued the regulations today.
The regulations issued by RBI are as follow:-
- KYC complaint holder who is the holders of Jan Dhan Accounts can withdraw Rs 10,000 per month.
- Thos who are an NON-KYC customer can withdraw up to Rs. 10,000 with a valid reason.
- Those who are an NON-KYC customer can only withdraw up to Rs 5,000 per month.
- Those NON-KYC who show a valid reason to the branch manager can withdraw up to Rs. 10,000 per month.
This is calling to be another positive step from RBI side. Stay tuned with us for more updates and news feeds like this.