In a bid to make life easier for citizens, the government has removed limit on cash withdrawal from ATM on current accounts, while the overall withdrawal limit of Rs 24,000 remains for the saving account holders.

"Limits...placed on cash withdrawals from ATMs stand withdrawn from February 01, 2017. However, banks may, at their discretion, have their own operating limits as was the case before November 8, 2016," RBI said in a notification.

"The limits on savings bank accounts will continue for the present and are under consideration for withdrawal in the near future. Further, banks are urged to encourage their constituents to sustain the movement towards digitisation of payments and switching over of payments from cash mode to non-cash mode," RBI said.