Amid the second wave of coronavirus pandemic, India's largest bank State Bank of India (SBI) has increased the ceiling for cash withdrawal by customers at non-home branches.
A 'Home' branch means where customers' accounts are maintained. And the banking facilities available to customers at branches other than the home branch are called the non-home branch.
SBI on its official Twitter handle said "To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form".
To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form.
#SBIAapkeSaath #StayStrongIndia #CashWithdrawal #Covid19 #BankSafe #StaySafe pic.twitter.com/t4AXY4Rzqh— State Bank of India (@TheOfficialSBI) May 29, 2021
The bank has hiked cash withdrawal for self (using cheque) to Rs 1 lakh per day. Cash withdrawal for self (using a withdrawal form) along with a Savings Bank passbook has been increased to Rs 25,000 per day.
Moreover, the third-party cash withdrawals, have been fixed at Rs 50,000 per month (only using cheque).
"No cash payments to third parties by withdrawal forms will be allowed", SBI stated. It also added that the KYC (Know Your Customer) of the third party should be submitted to the bank.
The SBI added that revised ceilings are valid up till September 30, 2021.
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