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November 17, 2016 Comments Off on Latest guidelines following note withdrawal Views: 3173 News & Updates

Latest guidelines following note withdrawal

As the nation go through a transition following the demonetisation new guidelines have been issued by the government for cash withdrawal and exchange. The Economic Affairs secretary Shaktikanta Das said that briefed for over the counter exchange of Rs. 500, Rs. 1000 notes, the limit would be reduced from Rs. 4,500 to Rs. 2000 from November 18. The farmers could now withdraw up to Rs. 25,000 per week against sanctioned crop loans. But the accounts from which money is to be withdrawn must in the farmers’ name. He further stated that the Kisan Credit Cards would be the subject of the same limitations. Up to Rs. 2.5 lakhs can be withdrawn from KYC compliant accounts for marriage ceremonies. Only one member of the family, be it mother or father could draw up to Rs. 2.5 lakhs for the wedding. The Central government employees up to group C could draw a salary advance of up to Rs. 10,000 in cash which would later be adjusted against their salaries in November.

Up to Rs. 2.5 lakhs can be withdrawn from KYC compliant accounts for marriage ceremonies. Only one member of the family, be it mother or father could draw up to Rs. 2.5 lakhs for the wedding. The Central government employees up to group C could draw a salary advance of up to Rs. 10,000 in cash which would later be adjusted against their salaries in November. The decision not to collect tolls has been extended to Nov 24.

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