RBI imposes withdrawal limits on Jan Dhan Accounts

Looking at the tremendous amount of deposits in Jan Dhan accounts, RBI has now imposed a withdrawal limit of Rs. 10,000 per month. This limit is only allowed for the KYC compliant account holders. Although, the branch managers may allow you to withdraw a sum exceeding Rs. 10,000 after ascertaining the genuineness of such withdrawals and properly documenting the transaction.

It is evident that such a step has been taken to protect the rural people from money laundering and black money activities going in the market.

Further, Non KYC compliant or limited account holders can withdraw a sum of Rs. 5,000 per month only. Also, the total ceiling limit for such bank account holders stays at Rs. 10,000.

Source: http://economictimes.indiatimes.com/news/economy/policy/rs-10000-withdrawal-allowed-from-jan-dhan-account-in-a-month/articleshow/55698561.cms?utm_source=facebook.com&utm_medium=referral&utm_campaign=ETFBMainPE

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