Demonetisation: RBI restricts withdrawal from Jan Dhan accounts up to Rs 10,000 per month

Mangalore Today News Network

New Delhi, Nov 30, 2016 : The Reserve Bank of India (RBI) on Wednesday capped the withdrawal limit on Jan Dhan account. Fully KYC complaint account holders may be allowed to withdraw Rs 10,000 in a month.

However, further withdrawals may be allowed within current applicable limits after ascertaining the genuineness of such withdrawals, the RBI said

Non KYC compliant account holders may b allowed to withdraw Rs 5,000 a month from amount deposited through SBNs within overall ceiling of Rs 10,000, RBI added.

Ever since Prime Minister Narendra Modi announced that Rs 500 and Rs 1000 notes will no longer remain legal tender, there have been a lot of suspicious activity on tens of thousands of Jan Dhan accounts in the country.

As on November 16, 25.58 crore accounts with aggregate deposits of Rs 64,252.15 crore have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY) across the country.

Leading the pack of states, Uttar Pradesh has the highest number of account holders to the tune of 3.79 crore and therefore highest deposits of Rs 10,670.62 crore. It is followed by West Bengal with 2.44 accounts and deposits of Rs 7,826.44 crore.

Rajasthan comes at the third spot with 1.89 crore accounts and the deposit in these accounts totals to Rs 5,345.57 crore while Bihar with 2.62 crore accounts have deposits of Rs 4,912.79 crore as of November 16
.