State Bank of India (SBI) has reduced the per day cash withdrawal limit for all Classic and Maestro Debit Cards holders from Rs. 40,000 to Rs. 20,000 with effect from Wednesday.
"Daily Cash withdrawal limits for Classic and Maestro Debit Cards reduced from Rs. 40,000 to Rs. 20,000 per day with effect from October 31, 2018. If you require higher daily cash withdrawal limit, please apply for a higher card variant," read a statement from the bank.
The decision has reportedly been taken by the bank to curb increasing instances of ATM frauds.