Notes exchange limits reduced From Rs 4,500 to Rs 2,000


New Delhi:  With cash crunch following demonetisation the Government on Thursday announced new measures to help farmers and families planning weddings withdraw more money from banks.

Economic Affairs Secretary Shaktikanta Das said that families can withdraw up to Rs 2, 50, 000 one time for the purpose of wedding which are KYC compliant with submission of PAN card details.

The limit for swapping notes at banks has been reduced from Rs 4,500 to Rs 2,000 for each from Friday.

Likewise farmers now can withdraw up to Rs 25,000 per week from their bank accounts. Traders in agricultural mandis will be permitted to draw Rs 50,000 in cash per week while the time limit for payment of crop loan insurance premium has been extended by 15 days.

Apart from it central government employees up to group C have been given an option to withdraw Rs 10,000 as advance which could be adjusted against their November salary.

Notably, with Prime Minister Narendra Modi doing away with Rs 500 and Rs 1000 bills huge impact on working class, small and rural and business in the short term has been seen in the country.

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