On October 1, 2018, SBI halved the withdrawal limit from Rs. 40,000 to Rs. 20,000 per day. This was targeted for debit cards of the ‘Classic’ and ‘Maestro’ platforms. The main objective in doing so was to reduce the number of fraudulent transactions and promote cashless transactions. This move would be effective form October 31, 2018 as according to Banking Codes & Standards Board of India (BCSBI) guidelines, at least 30 days’ notice has to be given to customers for any change in terms and conditions or charges.