NEW
DELHI: The government today revised certain guidelines for the withdrawal of
cash, limiting counter exchange of old Rs 500, Rs 1,000 notes from Rs 4,500 to
Rs 2000 starting from tomorrow.
Government
also allowed farmers to draw money from banks against loans sanctioned to them
to buy seeds and fertilisers in the ongoing sowing season, as it responds to
criticism against the move to cancel high-value rupee bills.
Farmers
will be able to withdraw up to 25,000 rupees per week against their crop loans,
Economic Affairs Secretary Shaktikanta Das told reporters, adding the time
limit to pay crop insurance premiums has also been extended by 15 days.
Millions
of Indian farmers, however, have no bank accounts and depend on local
moneylenders to fund sowing.
"One
member of the family, be it father or mother can withdraw upto Rs 2.5 lakhs for
a wedding," said Das.
Key takeaways from the
conference:
1.
Government
has decided that time limit in crop insurance premium cases will be extended by
15 days.
2.
Government
decides that farmers can withdraw Rs 25000 per week from a/c where farmers
receive either by cheque or which is credited by RTGS.
3.
For
wedding ceremonies, upto Rs 2.5 lakh can be withdrawn from the bank account
which is KYC compliant.
4.
For
over the counter exchange of old Rs 500/1000 notes, with effect from Nov 18, Rs
4,500 limit will be reduced to Rs 2000 from tomorrow.
5.
One
member of the family, be it father or mother can withdraw upto Rs 2.5 lakhs for
a wedding.
6.
Task
Force held a meeting and a road map has been formed to re-calibrate all ATMs;
sure that it will be done soon.
7.
Central
government employees up to Group 'C' can draw salary advance up to Rs 10,000 in
cash that'll be adjusted against their November salaries.
8.
Kisan
Credit Cards will be subject to same new limit.
9.
There
is enough cash available with Govt, no cash crunch.
10. Currency
printing presses operating at over 100 per cent capacity.
11. Mandi
traders can withdraw upto Rs 50,000 per week.
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