RBI Removes Cash withdrawal limits starts from February 1st, 2017

The Reserve Bank o INDIA confirms that there will be no Limits on Cash Withdrawals from February 1^st 2017. All limits on current and overdraft stand withdrawn with immediate effect, the central bank said.

 Restrictions over on withdrawal of 24,000 a week from savings bank account will continue for now.    

SBI (State Bank of India) Make a New Decision All the SBI Account Holders To Follow

In the past State Bank of India given a conformation to all the SBI account holders do not transfer amount to PAYTM wallet through ONLINE BANKING and now again SBI Announced that all the SBI Account holders should not Transfer money to FREECHARGE, MOBIKWIK, JIO MONEY, AIRTEL MONEY.SBI Blocked all the services transferring money through ONLINE BANKING in to the wallets.

  SBI suggesting to use E-wallet State bank Buddy application to transfer money, application developed by state bank of India. we can Transfer money in to wallets using Debit card and Credit card, to control from Hacking these decision was taken by STATE BANK OF INDIA after demonetization to come out all the situations wallet services users increased a lot. RBI (Reserve Bank of India) asked Expiation to SBI to explain the reasons why they stopped services to transfer money in to the wallets through ONLINE BANKING    

"Add money" to PayTM using SBI Internet banking has been disabled by bank.

State Bank of India has tweeted that they “blocked transferring money from SBI internet banking to payTm wallet” in their official twitter account , and they are recommending to use their State Bank Buddy app or SBI mobile wallets for making transactions .

BUT, paytm is much more convenient and easier to use where as SB buddy was so poor, buggy and moreover lacks a lot of options when compared to paytm.

As a result demonetization most of us started to use paytm for most of our online transactions and SBI thought that paytm was insecure for online transactions. But as we are using paytm since a couple of years paytm is much better than traditional SBI wallet apps.

There Was No Any Limit of Withdrawal Amount through Atm Cards

After demonetization in India many limits and conditions applied by RBI in case of Money withdrawal and deposit transactions.   After 30^th December of this month all the problems were going to be cleared at present withdrawal amount through ATM card Limit is 2500 this condition also going to be cleared. And also we can withdraw amount through banks according to the limits and rules before demonetization.

As per the present conditions weekly withdrawal amount is 24000 but after 30^th December of this month. RBI announced this all the rules may take back there will be no problems in case of money withdrawal etc and sufficient enough amount is present with RBI.