Live
- Guinness World Record for continuous Hanuman Chalisa chanting
- REMOTE TRIBAL AREA TO GET NEW BRIDGE
- Dr LB College, Woxsen teams win in Climate Tank Accelerator event
- CM Revanth petitions for change in Paleru rly line
- Udupi MP seeks more key highways on top priority
- New diet plan rolled out at welfare hostels
- HRF demands for nation-wide caste census
- SP launches Medicover family health card
- Chiranjeevi Visits Allu Arjun for Lunch Amid Ongoing Legal Turmoil
- Covid ‘scam’ FIR row: Congress pursuing politics of vengeance, says BJP
Cash exchange limit cut to half
With the demonetisation creating hardships in the middle of marriage and sowing seasons, the government on Thursday allowed withdrawals up to Rs 2.5 lakh for weddings and up to Rs 50,000 for farmers but more than halved the limit of exchange of defunct notes to Rs 2,000.
​New Delhi: With the demonetisation creating hardships in the middle of marriage and sowing seasons, the government on Thursday allowed withdrawals up to Rs 2.5 lakh for weddings and up to Rs 50,000 for farmers but more than halved the limit of exchange of defunct notes to Rs 2,000.
Economic Affairs Secretary Shaktikanta Das said the families preparing for a wedding can withdraw up to Rs 2.5 lakh from bank account giving PAN details and self declaration.
However, with effect from Friday individuals can exchange invalid 500 and 1,000 rupee notes totalling Rs 2,000, as against Rs 4,500 earlier, only once till Dec 30.
Besides, farmers who have taken crop loan or have kisan credit card can withdraw Rs 25,000 per week. Also those who have got payments through RTGS or cheque deposit in KYC compliant bank account can withdraw an additional Rs 25,000 a week.
"There is enough cash available with the government. This (reducing exchange limit) is mainly to enable larger number of people to reach the counter...
We find that same persons are visiting the counter multiple times and other people are not getting the benefits," Das said.
