SBI, the country’s largest lender has halved the daily cash withdrawal limit from ATM’s for those who hold Classic and Maestro debit cards. The limit which was earlier Rs. 40,000 per day has now been reduced to 20,000. Except for Classic and Maestro, all other debit cards will enjoy the usual withdraw limit of Rs. 40,000 per day.
The move comes in the wake of many fraudulent activities and to promote digital transaction. A month ago, SBI had alerted its customers holding Classic and Maestro debit cards about plans for putting a cap on withdrawal limit starting October 31. The SBI had put a message on its website stating the withdrawal limit and said anyone requiring higher amounts should possess higher card variant.