New Delhi: The cash crunch continues, ATMs are still dry and banks cashless. This after almost 40 days of note ban. The main reason for the current crisis is shortage of new notes which has forced government to put limit on withdrawal of cash. This current withdrawal limit is till December 30. The good news is that government has indicated that the limit may be raised after December 30.
The New Year could be happy for you. With 50% of the old notes been replace by the new currency, government may double the withdrawal limit to Rs 5,000 from ATMs. Similarly, the withdrawal limit via cheque may be increased to a total of Rs 30,000. These figures are being discussed at the highest level, however, no final decision has been taken yet.
The government is monitoring the cash situation closely, and will take the decision after gauging the mood of the country.