Cash Withdrawal at Point-of-Sale (POS) – Enhanced limit at Tier III to VI Centres

It has been decided to enhance the limit for cash withdrawal at POS (for debit cards and open system prepaid cards issued by banks in India) from INR 1000/- to INR 2000/- per day in Tier III to VI centres with immediate effect. The per-day limit in Tier I and II centres remains unchanged. Customer charges, if any, levied on cash withdrawals shall not exceed 1% of the transaction amount at all centres. Banks are advised to submit data on cash withdrawals to the Chief General Manager onquarterly basis within 15 days of the end of quarter as per the prescribed format.

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