State Bank of India (SBI), the country's largest bank, has changed the limit of cash withdrawal from non-home branches. These changes have been made in view of the corona epidemic so that customers can withdraw more money from their nearest branch. While giving information through social media, the bank has said that the limit for withdrawing money from the non-home branches (branches separate from its home branch) has been increased. These changes will be valid only till 30 September 2021.
Customers will now be able to withdraw more money from other branches apart from their home branch. According to the new rules, now you can withdraw up to 25 thousand rupees daily in your name through a withdrawal form along with the savings bank passbook. Customers can withdraw up to 1 lakh rupees per day in their name by check. The limit of withdrawal of money by a third party (through check only) has been increased to 50 thousand.
Bank of Baroda is going to change the mode of payment from a check from 1 June. Positive pay confirmation will be mandatory for bank customers to avoid being a victim of fraud. The purpose of implementing this system is to prevent fraud through checks. Customers will have to confirm the details of the check under the positive pay system only when they issue a bank check of Rs 2 lakh or more.
Under the positive pay system, the issuer of the check will have to give some information related to that check to the paying bank electronically. This information can be given through SMS, Mobile App, Internet Banking or ATM.
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