Attention SBI customers! Change in ATM withdrawal limitThe State Bank of India (SBI) customers must pay attention! Yesterday the Bank has issued a circular. The circular states that SBI Classic and Maestro Debit Card holders would not be able to withdraw Rs. 40,000/- per day. Instead the SBI customers would be able to withdraw Rs. 20,000/- per day. The Managing Director of SBI, Mr. PK Gupta has stated that this step (to reduce the limit) has been taken basically for two reasons. The first reason is to encourage cashless transaction. The second reason for reducing the withdrawal limit is due to the fact that complaints of fraudulent transactions at ATMs have been increasing.
This change has become effective from today (31st October, 2018). SBI customers, please note this change.