₹50,000 Per Day
In this case, the withdrawal limit is set at ₹50,000 per day. This means that a person can withdraw up to ₹50,000 in cash per day from their account. Withdrawal limits refer to the maximum amount of money that can be withdrawn from an account during a specific period.
Withdrawal limits are often put in place by banks and financial institutions to prevent fraud and ensure the safety of customer funds. They also help prevent overdrawing of accounts and limit the risk of loss in case of unauthorized transactions.
It is important for individuals to be aware of the withdrawal limits set by their bank or financial institution. In some cases, there may be additional fees or restrictions on withdrawals above a certain limit.
Overall, withdrawal limits are a necessary precaution to ensure the safety and security of financial transactions. It is important for individuals to manage their finances accordingly and plan ahead to avoid reaching their withdrawal limit and facing potential restrictions or fees.