RBI restricts withdrawals from Jan Dhan accounts up to Rs 10,000
Wednesday, 30 November 2016
The Reserve Bank has placed a limit of 10,000 rupees on monthly withdrawals from Pradhan Mantri Jan Dhan bank accounts and who want to withdraw more than 10,000 a month, will have to furnish appropriate documents to prove why they need the money. RBI, in a notification, said the move is with the objective of protecting innocent farmers and rural account holders of Pradhan Mantri Jan Dhan Yojana (PMJDY) from money launderers and legal consequences under the Benami Property Transaction and Money Laundering laws.
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