While the ATMs are still displaying that they do not have cash, the government has increased the limit of withdrawals. But the weekly limit of Rs 24000 remains as it is.
The PM Modi is supposed to address the Nation again today mostly on the demonetisation issue it is reported. He will explain as to what is the ground reality what would be the future.
The Reserve Bank of India has increased the cash withdrawal limit from automated teller machines to Rs 4,500 per day from January1.
The cash withdrawal limit was Rs 2,500 since the withdrawal of the high value currency notes.
At the same time the RBI is trying to pump in more number of Rs 500 notes so that the change situation also eases at the grass root level. There are rumors that the RBI might Ban the Rs 2000 notes in future as it has become very easy for the people to make fake currency of Rs 2000. It is very easy to copy them and very hard to identify the fake currency. Fake currency is already in circulation.
“Such disbursal’s should predominantly be in the denomination of ₹ 500,” RBI said.There is no change in weekly withdrawal limit of Rs 24,000, the central bank clarified.
On the whole it looks like the situation is going to become easy over the time, but it will take some time. By March end there could be enough flow of currency. The 50day deadline set by PM Modi is over but the situation has not improved.
