The State Bank of India (SBI) has decided raising the cash withdrawal limit via Point of Sale (PoS) machines. While informing the decision through its twitter account, SBI officials maintained that cash withdrawal of up to INR 2,000 via PoS in Tier 3 – 6 cities, would not incur service charges. The tweet further maintained that the limit is been fixed at INR 1,000 for customers in Tier 1 and 2 cities per card per day. It was after informing about the availability of 4.78 lakh Cash PoS machines for customers holding debit cards, which the country’s largest bank stated about raising the cash withdrawal limit.
Out of the total number of 6.08 lakh PoS machines, the bank has got 4.78 lakh machines, which are enabled to dispense cash.