Cash Withdrawals in India

With effect from 1-Mar-2017

• 4 free cash transactions (withdrawal and deposit total) are allowed per month per savings account.
• A charge of ₹150 will be levied per cash transaction after the free transactions.
• Upto ₹2,00,000 value of cash transaction (withdrawal and deposit total) are allowed per month from home branch of bank.
• After the free cash transaction value, a charge of ₹5 per ₹1000 will be levied for cash transactions.

To combat these rules, Indians should

• Have savings account in different banks.
• Withdraw ₹2 lakhs cash per month per savings account.
• Withdraw cash by going to bank personally.
• Don't withdraw from ATM, because ATM limits is much lesser.

Cash means privacy and freedom. Accept cash and pay cash wherever possible.