RBI relaxed the cash withdrawal limits from today for those who are depositing amounts from today in legal tender (meaning not the banned Rs.1000 and Rs.500 notes). They can withdraw any amount subject to a ceiling of amounts deposited in legal tender from 29-11-2016. The restriction of Rs.24000 will not apply for such withdrawals.

The amount so withdrawn, will be given to he customer preferably in high value denominations of Rs.2000 & Rs.500.

The decision by the RBI is on the consideration that, due the withdrawal limits people are hesitating to deposit their monies into the bank account due to the withdrawal limits.