Country's largest bank, State Bank of India, has decided to reduce the amount of withdrawal from ATMs in one day. This new rule of SBI will be applicable from October 31. This means that the customers of the bank will not be able to withdraw more than Rs 20,000 a day from tomorrow. Currently, this limit is 40,000 rupees.
In the order sent to SBI branches, it has been said that keeping in mind the complaints of fraud in banks' ATM transactions, the decision to reduce the cash withdrawal limit has been decided to increase the digital cashless transaction. The deduction limit for the debit card issued on the classic and the Mastro platform has been reduced. The reduction in cash withdrawal limit has been done before the festival began
Although the government is putting emphasis on digital transaction, cash demand has not been shown. According to some estimates, the marketer had more cash in circulation than was before the blockbuster. In the last few years, there have been many cases against which frauds are cloned by the card.
Bankam's MD PK Gupta said that a small amount is being withdrawn from the ATM. 20 thousand rupees is enough for most customers. We are also trying to reduce debris in a small amount of withdrawal. He further said that the customers who can afford to take extra money can take a card with a high variant. Such cards are issued to customers who keep more money than minimum balance in their bank account.
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