The Reserve Bank of India lifted all restrictions on cash withdrawals from savings bank accounts. The curbs were imposed following the demonetization of the Rs 500 and Rs 1000 notes on 8 November. Earlier, the RBI had removed all curbs on branch withdrawals from current accounts, cash credit and overdraft accounts and limits placed on daily cash withdrawals from ATMs. However, it retained the weekly withdrawal limit of Rs 24,000 on savings bank accounts. Finance minister Arun Jaitley had said new currency notes worth over Rs 12 lakh crore were currently in circulation in the country. He said the RBI has been infusing new Rs 500 and Rs 2,000 notes systematically into the market since 8 November .
