After enhancing the limit for exchange of old ₹500 and ₹1,000 bank notes to ₹4,500 from ₹4,000 and upping the per day ATM cash withdrawal limit to ₹2,500 from ₹2,000 with effect from Monday, the Reserve Bank of India has now made life a tad easier for small businesses by allowing current account holders to withdraw up to ₹50,000 a week.
The RBI said the current account should have been operational for the last three months or more and disbursement will be done predominantly in ₹2,000 denomination notes.
The RBI said banks may deploy their micro ATMs near village panchayat offices, police stations/police and military outposts, government departments, offices of public sector units, petrol pumps and other similar secure locations.