Amendment of notification number S.O. 3407(E) dated the 8th November, 2016 S.O.3449(E)- (Ministry of Finance ) (14 Nov 2016)

MANU/EAFF/0175/2016

Banking

In exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby further amends the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs number S.O. 3407(E) dated the 8th November, 2016 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 8th November, 2016, namely:-

1. In the said notification, in paragraph 2,-

(a) in clause (vi), the words, letters and figures "until the end of business hours on 24th November, 2016, after which these limits shall be reviewed" shall be omitted;

(b) after clause (vi), the following proviso shall be inserted, namely:- "Provided that cash withdrawal from a current account, which is in operation during the last three months or more, shall be restricted to Rs. 50,000/- a week.";

(c) in clause (viii), the words, letters and figures "and the limit shall be raised to Rs. 4000/- per day per card from 19th November, 2016" shall be omitted.

Tags : NOTIFICATION AMENDMENT WITHDRAWAL LIMITS