New Delhi, Nov 30: RBI and the Finance ministry took the decision of curtailing the withdrawal limit on Jan Dhan bank accounts to Rs 10,000 per month after reports of these accounts being used to piggy back black money came in from different parts of the country.
 
“The branch managers may allow further withdrawals beyond Rs 10,000 within the current applicable limits only after ascertaining the genuineness of such withdrawals and duly documenting the same on bank's record," Rbi officials said when breaking the news to the media. 
 
For non-KYC compliant accounts, the withdrawal limit has been fixed at Rs 5,000 per month from the amount deposited after November 9, with an overall ceiling of Rs 10,000.
 
"The decision has been taken to protect the farmers and rural account holders of Pradhan Mantri Jan Dhan Yojana from activities of money launderers and legal consequences under the benami property transaction and money laundering laws," it said.
 
Earlier, the government had warned people from letting their Jan Dhan accounts being used by people to park their unaccounted cash.The Finance Ministry had set an upper limit of Rs 50,000 for deposits into Jan Dhan accounts.