In a notification issued on Tuesday, The Reserve Bank of India said that the Jan Dhan account holders can withdraw only up to Rs. 10,000 a month.
It said, “Constrained or Non KYC consistent record holders might be permitted to pull back Rs. 5,000 every month from the sum stored through SBNs after November 09, 2016 inside the overall ceiling of Rs. 10,000.”
The move was to shield provincial record holders from exercises of government evasion and lawful results under the Benami Property Transaction and Money Laundering laws, it said.
Deposits in Jan Dhan accounts took off strongly by around Rs. 27,200 crore in only 14 days after the declaration of prohibition on Rs. 500 and Rs. 1,000 notes. The aggregate stores in the 25.68 crore Jan Dhan accounts crossed the Rs. 70,000 crore stamp and were at Rs. 72,834.72 crore on November 23.