Limits on cash withdrawals will be removed entirely from March 13, India’s central bank said on Wednesday (8), as it left interest rates on hold for the second time since a ban on high-value rupee notes. The Reserve Bank of India capped cash withdrawals after prime minister Narendra Modi’s shock decision in November to take all Rs 500 ($7.40) and Rs 1,000 notes out of circulation to deter tax-dodging – 86 per cent of the currency in the cash-reliant nation. The ensuing cash crunch saw long queues outside banks and ATMs, which ran dry within hours and left many without…
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