India’s largest lender State Bank of India (SBI) has reduced the cash withdrawals limits on its Classic and Maestro debit cards from Rs 40,000 to Rs 20,000 per day with immediate effect from October 31. Which of the following is the reason for the statement? I: State Bank of India reduced the cash withdrawal limits to make the people apply for higher card variant. II: The cash withdrawal limit was lowered to prevent fraudulent transactions. Correct Answer Only II Only II follow. The bank lowered the cash withdrawal limit to prevent fraudulent transactions but not to make the people apply for higher card variant. Hence, option 1 is the solution.