RBI signals end to cash controls
Central bank prepares to lift restrictions on cash withdrawals
The Reserve Bank of India (RBI) is moving to end restrictions on cash withdrawals, two months on from the controversial decision to scrap two high-value banknotes overnight.
The central bank said today (January 30) that "on a review of the pace of remonetisation" it had decided to "partially restore the status quo", ending limits on withdrawals from current accounts immediately and lifting restrictions on ATM withdrawals from February 1.
Limits on savings account will continue, though they are
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