In the context of withdrawal limits, “per day” refers to the maximum amount. Of money that a user is allowed to withdraw from their account in a 24-hour period. This limit is usually set by the financial institution or service provider to ensure that there is enough cash flow to meet the demands of all their customers.
In the case of withdrawal limits set at ₹50,000 per day, this means that a user can withdraw up to in a single day. This limit is typically imposed to protect the user’s funds and prevent fraudulent activity. It also helps the financial institution manage its liquidity and maintain a healthy cash balance.
It’s important to note that withdrawal limits may vary. Depending on the type of account, the user’s status, and the financial institution’s policies. For instance, VIP account holders or those with a high net worth may have higher withdrawal limits. Moreover, the limit may also depend on the mode of withdrawal, such as ATM or online transfer.
Overall, withdrawal limits serve as a safeguard for both the user and the financial institution. They help prevent unauthorized transactions and ensure that the institution is able to meet its financial obligations while maintaining a secure and stable banking environment.