In an crusade to address the growing incidence of ATM frauds as well as boost digital transactions, India’s largest lender State Bank of Republic of Republic of India (SBI) today halved the daily ATM cash withdrawal bound to Rs. 20,000 from Rs. 40,000. The revised ATM withdrawal bound volition live on effective from 31st Oct 2018.
“In thought of the increase inwards the number of complaints received yesteryear banks only about fraudulent transactions at ATMs as well as to encourage digital as well as cashless transactions, it has been decided to decrease the cash withdrawal limits of debit cards issued or beingness issued on ‘Classic’ as well as ‘Maestro’ platforms,” the banking concern stated inwards an official announcement.
This restriction is applicable for solely the Classic Debit Card
holders. Whereas SBI Platinum International Debit Card
allows ATM withdrawals of upwards to Rs i lakh daily
piece the SBI Gold debit carte du jour
allows Rs 50,000
But these cards are issued to solely those customers, who are maintaining a higher minimum residual inwards their banking concern accounts.