After sudden surge of balance in Jan -Dhan-accounts of poor persons to 73000 crore ,RBI has fixed the withdrwal limit from such account.
- ₹ 5000/- per month for non-kyc compliant accounts
- ₹ 10000/- for kyc compliant accounts which can be further extented by Bank manager after genuiness of customer.
- The above limit is applicable only on notes deposited in demonetised cureency i.e Rs 500 and Rs 1000 notes.
DCM (Plg) No. 1450/10.27.00/2016-17
November 29, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks
Accounts under PMJDY - Precautions
Please refer to our circular DCM (Plg) No.1424/10.27.00/2016-16 dated November 25, 2016 on “Withdrawal of cash – Weekly limit”. With a view to protect the innocent farmers and rural account holders of PMJDY from activities of money launders and legal consequences under the Benami Property Transaction & Money Laundering laws, it has been decided to place certain limits, as a matter of precaution, on the operations in the PMJDY accounts funded through deposits of Specified Bank Notes (SBNs) after November 09, 2016. As a temporary measure, the banks are advised to observe the following in respect of the PMJDY accounts:
- Fully KYC compliant account holders may be allowed to withdraw ₹ 10,000/- from their account, in a month. The branch managers may allow further withdrawals beyond ₹ 10,000 within the current applicable limits only after ascertaining the genuineness of such withdrawals and duly documenting the same on bank’s record.
- Limited or Non KYC compliant account holders may be allowed to withdraw ₹ 5,000 per month from the amount deposited through SBNs after November 09, 2016 within the overall ceiling of ₹ 10,000.
(P Vijaya Kumar)
Chief General Manager