Wednesday, August 4, 2021
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ATM cap on the way out

After a slow and steady start, the ATM rules are relaxed one by one in the post demonetisation period and it is a good news.  What the Prime Minister Narendra Modi and Finance Minister promised is slowly gaining momentum and the cash withdrawal limits will be lifted from March 13 2017. For the time being the existing withdrawal limit of Rs.24000 per week from Savings Bank accounts will be relaxed to Rs 50000 by Feb 20 and all caps to be withdrawn in early March. Whatever said and commented upon by the opposition all came to naught as the government kept up the promise and did a world of good to the Banking Industry. Bank staff did take up the task gamely on their side and cooperated with the account holders in the best way possible.  In all, it was a magic moment of Modi, which all came as per plans with hiccups created by the opposition. Now the opposition is finding no way to comment and the carping critics are quite after creating hurdles to the ruling party with exaggerated news clippings.

Nickil Akhilesh Krishnan

(The views expressed by the author in the article are his/her own.)

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