**Executive Summary:**
This notification, dated November 30, 2016, further amends a previous Government of India notification regarding financial regulations. It modifies the rules pertaining to cash withdrawals from bank accounts and ATMs, specifying that these limits will be determined by the Reserve Bank of India (RBI) from time to time. Additionally, it updates instructions for ATMs and White Label ATMs regarding the dispensation of banknotes.
**Key Points / Main Content:**
* **Amendments to Previous Notification:** This document amends notification S.O. 3407E, dated November 8, 2016.
* **Cash Withdrawal Limits:**
* **Over-the-Counter Withdrawals:** Cash withdrawals from bank accounts over the counter will be as specified by the Reserve Bank of India (RBI) from time to time.
* **Current Account Withdrawals:** Cash withdrawals from current accounts will be as specified by the RBI from time to time.
* **APMC Traders:** The withdrawal limit applicable to current accounts also applies to traders registered with the Agricultural Produce Market Committee (APMC) markets and mandis.
* **ATM Withdrawals:** Cash withdrawals from ATMs will be as specified by the RBI from time to time.
* **ATM Banknote Dispensation:**
* ATMs and White Label ATMs will dispense banknotes as specified by the Reserve Bank of India from time to time.
**Impact Analysis:**
**Banks:**
* *Impact:* Banks need to implement the updated cash withdrawal limits and ATM dispensation rules as specified by the RBI.
* *Action Required:* Banks must adhere to the guidelines issued by the RBI regarding cash withdrawal limits and ATM configurations.
**Account Holders (General Public):**
* *Impact:* Account holders are subject to cash withdrawal limits from banks and ATMs as determined by the RBI.
* *Action Required:* Account holders should stay informed about the current withdrawal limits set by the RBI.
**Traders Registered with APMC:**
* *Impact:* Traders are subject to the same cash withdrawal limits as current account holders.
* *Action Required:* Traders should be aware of the withdrawal limits applicable to current accounts.
**ATM Operators (including White Label ATMs):**
* *Impact:* ATM operators need to ensure their machines dispense banknotes according to RBI specifications.
* *Action Required:* ATM operators must configure their machines to dispense banknotes as per RBI directives.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking system and monetary policy. Mentioned in the context of specifying cash withdrawal limits and instructions for ATMs.
Ministry of Finance: A department of the Government of India, responsible for economic and financial matters.
Department of Economic Affairs: A department within the Ministry of Finance, Government of India. The notification originates from this department.
New Delhi: The location where the notification was issued, specifying the city.
Reserve Bank of India Act, 1934: An act of parliament that governs the Reserve Bank of India.
S.O. 3407E: The primary notification being amended, dated the 8th November, 2016, related to cash withdrawal limits.
Agricultural Produce Market Committee: An organization that regulates agricultural markets. Traders registered with APMC markets and mandis are mentioned in the context of withdrawal limits.
Dr. Saurabh Garg: The Joint Secretary who signed the notification.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (ii)
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PUBLISHED BY AUTHORITY
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No. 2820] NEW DELHI, WEDNESDAY, NOVEMBER 30, 2016/AGRAHAYANA 9, 1938
िव(cid:7004)त म(cid:7074)ं ालय
(आ(cid:7414)थक काय (cid:6981)िवभाग)
अिधसचू ना
नई (cid:7408)द(cid:7016)ली, 30 नव(cid:7013) बर, 2016
का.आ. 3599(अ).—क(cid:7286)(cid:7076)ीय सरकार, भारतीय (cid:7407)रजव(cid:6981) ब(cid:7289)क अिधिनयम, 1934 (1934 का 2) क(cid:7409) धारा 26 क(cid:7409)
उपधारा (2) (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए, भारत सरकार, िव(cid:7004) त मं(cid:7074)ालय, आ(cid:7414)थक काय(cid:6981) िवभाग क(cid:7409) अिधसूचना सं.
का.आ. 3407(अ) तारीख 8 नवंबर, 2016, जो भारत के राजप(cid:7074), असाधारण, भाग II, खंड 3, उपखंड (ii) म(cid:7286) तारीख
8 नव(cid:7013) बर, 2016 को (cid:7079)कािशत क(cid:7409) गई थी, का और संशोधन करती ह,ै अथा(cid:6981)त ्:--
1. उ(cid:6989) त अिधसूचना म,(cid:7286) पैरा 2 म(cid:7286),--
(क) खडं (vi) के (cid:7021)थान पर, िन(cid:7013)न िलिखत खडं रखा जाएगा, अथा(cid:6981)त् :--
“(vi) (cid:7408)कसी ब(cid:7289)क खाते से, नकद िनकासी इस (cid:7079)कार होगी, जसै ा समय-समय पर भारतीय (cid:7407)रजव(cid:6981) ब(cid:7289)क (cid:7367)ारा
िविन(cid:7416)द(cid:7020) ट (cid:7408)कया जाए :
परंतु (cid:7408)कसी चालू खात े से, नकद िनकासी इस (cid:7079)कार होगी, जसै ा समय-समय पर भारतीय (cid:7407)रजव(cid:6981) ब(cid:7289)क (cid:7367)ारा
िविन(cid:7416)द(cid:7020) ट (cid:7408)कया जाए :
परंतु यह और (cid:7408)क चाल ू खात(cid:7298) के िलए उपबंिधत िनकासी सीमा, कृिष उ(cid:7004) पाद िवपणन सिमित
(ए.पी.एम.सी.) बाजार(cid:7298) और मिं डय(cid:7298) के साथ रिज(cid:7021) (cid:7069)ीकृत (cid:7018) यापा(cid:7407)रय(cid:7298) को भी लाग ू होगी ।”;
5536 GI/2016 (1)(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(ख) खडं (viii) के (cid:7021)थान पर, िन(cid:7013) निलिखत खंड रखा जाएगा, अथा(cid:6981)त् :--
“(viii) (cid:7408)कसी एटीएम स े नकद िनकासी इस (cid:7079)कार होगी, जैसा समय-समय पर भारतीय (cid:7407)रजव(cid:6981) ब(cid:7289)क (cid:7367)ारा
िविन(cid:7416)द(cid:7020) ट (cid:7408)कया जाए ।”।
2. उ(cid:6989) त अिधसूचना म,(cid:7286) पैरा 3 के उपपैरा (5) म,(cid:7286) “सभी ब(cid:7289)क यह सुिनि(cid:7019) चत कर(cid:7286)गे (cid:7408)क उनके एटीएम और (cid:7019) वेत लेबल
एटीएम (cid:7407)रजव(cid:6981) ब(cid:7289)क स े और अगले अनुदशे (cid:7079)ा(cid:7009) त होन े तक 100/- (cid:7271)पए या 50/- (cid:7271)पए अं(cid:7408)कत म(cid:7016)ू य के ब(cid:7289)क नोट(cid:7298) का िवतरण
कर(cid:7286)गे ।” श(cid:7011) द(cid:7298) और अंक(cid:7298) के (cid:7021)थ ान पर, “पैरा 1 के उपपरै ा (1) म(cid:7286) िन(cid:7416)द(cid:7020) ट सभी ब(cid:7289)क यह सुिनि(cid:7019)च त कर(cid:7286)गे (cid:7408)क एटीएम और (cid:7019) वते
लेबल एटीएम ऐसे ब(cid:7289)क नोट(cid:7298) का िवतरण कर(cid:7286)ग,े जैसा समय-समय पर भारतीय (cid:7407)रजव(cid:6981) ब(cid:7289)क (cid:7367)ारा िविन(cid:7416)द(cid:7020) ट (cid:7408)कया जाए ।” श(cid:7011)द ,
अंक और को(cid:7020) ठक रखे जाएगं े ।
[फा. सं. 10/03/2016-सीवाई. I]
डा. सौरभ गग,(cid:6981) संयु(cid:7334) सिचव
(cid:7407)ट(cid:7009)प ण : मलू अिधसूचना, भारत के राजप(cid:7074), असाधारण, भाग II, खंड 3, उपखंड (ii) म(cid:7286) अिधसूचना सं. का.आ. 3407(अ)
तारीख 8 नव(cid:7013) बर, 2016 (cid:7367)ारा (cid:7079)कािशत क(cid:7409) गई थी और उसको अिधसूचना सं. का.आ. 3418(अ) तारीख
9 नव(cid:7013) बर, 2016 (cid:7367)ारा सही (cid:7408)कया गया था और का.आ. 3446(अ) तारीख 13 नवंबर, 2016, का.आ. 3449(अ)
तारीख 14 नव(cid:7013) बर, 2016, का.आ. 3479(अ) तारीख 17 नव(cid:7013) बर, 2016, का.आ. 3488(अ) तारीख 18 नव(cid:7013) बर,
2016 और का.आ. 3543(अ) तारीख 24 नव(cid:7013) बर, 2016 (cid:7367)ारा संशोिधत (cid:7408)कया गया था ।
MINISTRY OF FINANCE
(DEPARTMENT OF ECONOMIC AFFAIRS)
NOTIFICATION
New Delhi, 30th November, 2016
S.O. 3599(E).—In exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of
India Act, 1934 (2 of 1934), the Central Government hereby further amends the notification of the Government of India,
in the Ministry of Finance, Department of Economic Affairs number S.O. 3407(E) dated the 8th November, 2016
published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 8th November, 2016,
namely:—
1. In the said notification, in paragraph 2,—
(a ) for clause (vi), the following shall be substituted, namely:—
“(vi) cash withdrawal from a bank account over the counter shall be such as may be specified by the
Reserve Bank of India from time to time:
Provided that cash withdrawal from a current account shall be such as may be specified by the Reserve
Bank of India from time to time:
Provided further that the withdrawal limit provided for current accounts shall also be applicable to the
traders registered with the Agricultural Produce Market Committee (APMC) markets and mandis.” ;
(b) for clause (viii), the following clause shall be substituted, namely:—
“(viii) cash withdrawal from an ATM shall be such as may be specified by the Reserve Bank of India
from time to time.”.¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
2. In the said notification, in paragraph 3, in sub-paragraph (5), for the words, letters and figures “paragraph 1 shall
ensure that their ATMs and white Label ATMs shall dispense bank notes of denomination of Rs. 100 or Rs. 50, until
further instructions from the Reserve Bank” the words, figure and letters “paragraph 1, ATMs and White Label ATMs
shall dispense bank notes as may be specified by the Reserve Bank of India from time to time”
[F. No. 10/03/2016-Cy.I]
Dr. SAURABH GARG, Jt. Secy.
Note : The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii)
(cid:118)(cid:100)(cid:105)(cid:101) notification number S.O. 3407(E) dated the 8th November, 2016 and subsequently corrected (cid:118)(cid:100)(cid:105)(cid:101) notification
number S.O. 3418(E) dated the 9th November, 2016 and amended (cid:118)(cid:100)(cid:105)(cid:101) S.O. 3446 (E) dated the 13th November,
2016, S.O. 3449(E) dated the 14th November, 2016, S.O. 3479(E) dated the 17th November, 2016, S.O. 3488(E)
dated the 18th November, 2016 and S.O. 3543(E) dated the 24th November, 2016.
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and Published by the Controller of Publications, Delhi-110054.