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New DelhiOne hour ago
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The country’s largest bank State Bank India (SBI) has changed the limit of cash withdrawal from non-home branch. These changes have been made in view of the corona epidemic so that customers can withdraw more money from their nearest branch. The bank has given information through social media that it has increased the limit for withdrawing money from non-home branch (branches separate from its domestic branch). These changes will be valid only till 30 September 2021.
What are the new rules?
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 per day in your name through withdrawal form with 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 third party (through check only) has been increased to 50 thousand.
Positive pay system will be applicable in Bank of Baroda from June 1
Bank of Baroda is going to change the mode of payment from check from 1 June. Positive Pay Confirmation will become mandatory for the customers of the bank to avoid falling prey to 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.