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Cash limits relaxed for farmers, weddings

By The Assam Tribune

NEW DELHI, Nov 17 - With the demonetisation creating hardships in the middle of marriage and sowing seasons, government today allowed witdrawals 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 2.50 lakh from bank account giving PAN details and self-declaration.

However, with effect from tomorrow, individuals can exchange invalid 500 and 1,000 rupee notes totalling Rs 2,000, as against Rs 4,500 earlier, only once till December 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. This takes the total cash withdrawal limit for farmers from KYC complaint bank accounts to Rs 50,000 per week.

Select bank branches across metro cities have already started applying indelible ink on the right hand index finger of people who are exchanging notes.

�There is enough cash available with the government. This (reducing currency exchange limit) is mainly to enable larger number of people to reach the counter... We find that many people are not able to reach the counter and same persons are visiting the counter multiple times and other people are not getting the benefits,� Das said. � PTI

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Cash limits relaxed for farmers, weddings

NEW DELHI, Nov 17 - With the demonetisation creating hardships in the middle of marriage and sowing seasons, government today allowed witdrawals 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 2.50 lakh from bank account giving PAN details and self-declaration.

However, with effect from tomorrow, individuals can exchange invalid 500 and 1,000 rupee notes totalling Rs 2,000, as against Rs 4,500 earlier, only once till December 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. This takes the total cash withdrawal limit for farmers from KYC complaint bank accounts to Rs 50,000 per week.

Select bank branches across metro cities have already started applying indelible ink on the right hand index finger of people who are exchanging notes.

�There is enough cash available with the government. This (reducing currency exchange limit) is mainly to enable larger number of people to reach the counter... We find that many people are not able to reach the counter and same persons are visiting the counter multiple times and other people are not getting the benefits,� Das said. � PTI