Thursday 17 November 2016

Demonetisation: Govt announces New Rules

Government announces major relief to farmers, small traders, government employees and families having marriages. farmers can now withdraw upto 25 thousand rupees against sanctioned crop loans and households having marriages can now withdraw upto 2.5 lakh rupees. Announcing another set of measures to ease a massive cash crunch after the currency ban, government today said families can
withdraw Rs. 2.5 lakh for weddings from one account of either of the parent. Department of Economic Affairs secretary Shaktikanta Das said farmers can withdraw upto Rs 25,000 in a week

Briefing media Shaktikanta Das said farmers can withdraw this amount against sanctioned crop loans and credit it to their accounts.

Das said Central govt employees up to group C can draw salary advance up to Rs 10,000 in cash that will be adjusted against their November salaries.

Economic Affairs Secretary Shaktikanta Das said the limit for swapping notes at banks has been reduced from Rs. 4,500 to Rs. 2,000 for each person.

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