A good news awaits the bank customers who will soon be able to withdraw upto Rs 1 lakh in a single day from ATM Machines of the respective branches. Not only that you can you can shop for Rs 1.25 lakh with their debit cards on the same day.
More to add to this good news is that you can send upto Rs 3 lakh in a day to another account through ATMs and through phone banking.
This advanced services are brought by the Reserve Bank of India in order to provide a convenient service to the customers and also to ease the pressure of the banks. Moreover this would save consumers the trouble of running to their branches within their limited working hours.
At present every bank allows you to withdraw not more than Rs 50,000 in a single day. HDFC Bank is the first to offer this with effect from June 1, 2010 and its known that other banks will might follow the same trends soon allowing the customer higher withdraw and shopping limits.
In which bank you have your account? Have you heard from your bank about the higher withdraw limits?
I guess this is not available still as I see that most of the ATMs still allow withdrawing things in a limit, of upto 25k or 40k depending on the bank.