Answer By law4u team
The daily ATM cash withdrawal limit in India is primarily determined by the issuing bank and the type of card (debit or credit), not by any single fixed law. However, there are some general guidelines and regulatory practices: General Limits on ATM Cash Withdrawal 1. Bank-Specific Limits: Most banks set their own withdrawal limits for debit cards, typically ranging from ₹10,000 to ₹50,000 per day. For example, some banks allow ₹20,000 per day for basic savings accounts, while premium account holders or specific card types may have higher limits. Credit cards often have a cash advance limit, which is usually a percentage of the overall credit limit and might be lower than debit card withdrawal limits. 2. RBI Guidelines: The Reserve Bank of India (RBI) does not prescribe a fixed nationwide ATM withdrawal limit but encourages banks to set limits based on risk management and customer profiles. RBI’s focus is on securing transactions and protecting consumers, so limits are part of the bank’s fraud prevention measures. 3. Daily Withdrawal Limit for RuPay Cards: RuPay cards, which are widely issued by public sector banks, often have lower withdrawal limits, typically ₹10,000 to ₹20,000 daily at ATMs. 4. Unified Payments Interface (UPI) and Other Digital Limits: For digital payments via UPI or other modes, limits are set differently, but this is separate from ATM cash withdrawal. Factors Affecting Your ATM Withdrawal Limit Card Type: Platinum, Gold, or Classic debit cards have different limits. Account Type: Salary accounts, savings accounts, and premium accounts may have varied limits. Bank Policies: Banks can change limits from time to time based on security assessments. ATM Provider: Some third-party ATM networks may have their own caps. Daily Transaction Limit: Some banks impose limits on the number of transactions per day in addition to the amount limit. Example Scenario A customer with a standard debit card may have a ₹25,000 per day ATM withdrawal limit. If the customer wants a higher limit, they can request their bank for an increase, subject to bank approval. Summary There is no uniform fixed limit set by law; withdrawal limits vary by bank and card type. Typical daily ATM withdrawal limits range from ₹10,000 to ₹50,000. Banks set limits for security and risk management, following RBI guidelines. Customers can check their specific limits with their bank or through net banking/mobile apps.