SBI decreases ATM withdrawal limit

State Bank of India (SBI) has taken a big decision in respect to withdrawing money from ATM, in which transaction limit has been reduced. The bank has decided that only 20 thousand rupees can be withdrawn within one day. The bank has said that this decision has been taken after complaints of fraud.

Till now SBI ATMs had a transaction limit of 40 thousand rupees in a day, but after the new rules of the bank, it will be reduced to 20 thousand rupees per day. This new rule will be implemented from October 31 this year.

The bank has sent written orders to all the branches in this regard. The bank has said in its order that the decision of the fraud is increasing in ATM transactions, in view of which the decision has been taken. Also, it has been decided to reduce the limit for withdrawal of money from the purpose of promoting digital or cashless transactions. This new reduced limit will be applicable on the ‘Classic’ and ‘Maestro’, debit card issued by the bank.

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