Can a person take Rs.4000 from different branches of his bank?
Posted on: 14/Nov/2016 9:50:17 AM
Officials from the Reserve Bank of India have explained regarding the issue whether the same person can withdraw Rs. 4000/- cash from the different branches of his bank.
In the present scenario, questions have been raised whether a person, after showing ID card, can withdraw Rs. 4000/- from the different branches of his banks or other banks more than a few times.
The Reserve Bank officials explained that in the current arrangement, a maximum of Rs. 4000/- can be withdrawn after showing ID proof.
However, there is no monitoring regarding how many times a person visits, etc.
However, if one individual withdraws large amounts, the others will; have difficulty. So, presently, the Reserve Bank and some other banks have adopted the procedure of registering the fingerprints of the account holder. However, many banks are yet to adopt this.
With a view that the public should not have any hardship in withdrawing money, the current arrangement of getting the application and ID proof is being followed. However, there are possibilities of the same person visiting the same bank (other branches) or different banks and withdraw Rs. 4000/- every time.
Only later, at the end of transactions for the day, it is possible to ascertain the data how many times a single person has withdrawn from which banks, etc..
