Currency Ban: Withdrawal restrictions likely to continue after December 30
- The government and the RBI have not specified a date as of yet.
- Narendra Modi had given a 50-day deadline for the situation to get better.
The pace with which Reserve Bank of India (RBI) has been changing the guidelines and regulations post the currency ban, they have not been able to catch up with the speeding demand of new currency notes.
Indian Prime Minister Narendra Modi had given a 50-day deadline for the situation to get better. The deadline is coming to an end and the Indian citizens are becoming impatient.
Looking at the current scenario, RBI is likely to continue with their guideline of withdrawal limit even after December 30, 2016 and this is definitely not good news for the civilians, who have been struggling since November 8, 2016 to get their hands on cash.
This is because even if the withdrawal limit is withdrawn after January 2, 2017, the banks will not be able disburse cash like it used to do before demonetisation.
There are a number of banks which are not being able to disburse even the current limit of ₹ 24,000. The government and the RBI have not specified a date as of yet.