Huge relief for farmers, families celebrating weddings; over-the-counter exchange limit reduced

Central government employees, up to group C, can draw their salary in advance up to Rs 10,000 in cash, DEA Secy Das said.

By: Express Web Desk | New Delhi | Updated: November 17, 2016 6:04 pm
demonetisation, demonetization, demonetization news, demonetization india, demonetization effects, 500 rs note, 500 rs note 2016, 2000 rupees, india news Central government employees, up to group C, can draw their salary in advance up to Rs 10,000 in cash, DEA Secy Das said.

In a breather for farmers across the country ahead of the onset of Rabi season, Economic Affairs Secretary Shaktikanta Das Thursday announced that farmers can withdraw up to Rs 25,000 per week from the payment they receive for agriculture produce in form of cheque or RTGS. Further, the government has decided to increase the time limit for payment of crop insurance premium to 15 days. “Government has decided that time limit in crop insurance premium cases will be extended by 15 days,” Das said. The Finance Ministry will also allow registered traders at mandis to withdraw up to Rs 50,000 per week to meet labour costs. All the accounts of farmers and traders must be Know Your Customer (KYC) compliant, Das said.

READ | Households celebrating weddings can withdraw up to Rs 2.5 lakh

WATCH VIDEO: Big Relief For Farmers, Families Celebrating Weddings: Find Out More

 

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Saying that the government and the Prime Minister’s Office have received several representations from the public to relax withdrawal norms for households celebrating wedding ceremonies, Das said a member of the family, be it father or mother, can make a one-time withdraw of up to Rs 2.5 lakh. “Up to Rs 2.5 lakh cash can be drawn from bank account for a marriage during ongoing wedding season,” Das said. However, the limit for over the counter exchange of old Rs 500, RS 1000 notes has been reduced from Rs 4,500 to Rs 2,000. “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,” Das said.

READ | Exchange of old Rs 500, Rs 1000 notes limited to Rs 2,000

WATCH VIDEO

And central government employees, up to group C, can draw their salary in advance up to Rs 10,000 in cash, Das said. This will be adjusted against their November salaries, he added. On the issue of recalibration of ATMs, Das said the special task force set up to expedite the process have held a meeting and a road map has been formed to re-calibrate all ATMs.

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  1. A
    AM
    Nov 17, 2016 at 1:13 pm
    Modi ji is for corporates only ! He takes money from them in crores and quid pro quo return them for favours worth hundreds of crores in shape of write offs, land, stamp duty relief etc. The common man may die standing in the line in the sun he cares a damm ! His corporate friends funding him are safe and sound ! Next election will see the results !
    Reply
    1. M
      MyTake
      Nov 17, 2016 at 6:33 am
      Just a thought. lt;br/gt;lt;br/gt;Would the use of another countries currency as ones own solve the problem of corruption? Can India for example use US currency as its own, in which case it will make it more difficult for the crooks to print the notes! Plus they will be more under the scanner! lt;br/gt;Or it will not be allowed to use one country's currency by another country? If it is not, what if two countries can agree to that?
      Reply
      1. M
        MyTake
        Nov 17, 2016 at 5:54 am
        This is what the "Hopo-sition" should have been asking for! Making proposals what can help the people! lt;br/gt;lt;br/gt;Instead, they started singing like stan I song: "no matter what you do is ball bad, all bad"! The "Hopo-sition" missed the chance to be included in people's good book!
        Reply
        1. S
          SubbuI
          Nov 17, 2016 at 1:27 pm
          THANK YOU SIR. YOU ARE GREAT.NOBODY EXCEPT YOU CAN UNDRESTAND THE PAIN OF HINDIANS.WE HINDIANS WORSHIP YOU AND REGARD YOU AS OUR SAVIOUR FROM ALL PROBLEMS. AALL HINDIAN CHILDREN LOVE YOU VERY MUCH.THEY CALL YOU MODI CHACHA. PLEASE ACCEPT OUR GRAUDES THANK YOU MY GOD. JAI MODI-HAIL MODI
          Reply
          1. S
            SubbuI
            Nov 18, 2016 at 5:55 am
            VERY GOOD DECEISION BY MODI GOVT
            Reply
            1. A
              ams
              Nov 18, 2016 at 2:06 am
              Modi ji is clearly a genius.. proved beyond doubt now.. first they said 3 days, then 7 days, then 1 month then give me time till Dec 30 "to fight black money" and ease cash crunch.. ATM withdrawal limit first 2500, then 4000 now again 2500.. God knows what the fkc is going on with this Govt!!!!!
              Reply
              1. A
                ams
                Nov 18, 2016 at 2:07 am
                SBI is owned by Govt. Who are you fooling???????
                Reply
                1. A
                  alam
                  Nov 17, 2016 at 11:08 am
                  Central govt data 2015 says 65% Indians have no bank accounts and 45 % Indians had never used post office service. Elite cl or Millionaires and Billionaires account for less then 01 % off Indian potion . Clearly indicates poor people or farmers doesn't have bank account and they are major sufferer due to lack of knowledge / education or what so ever reason. Govt should consider these majority potion and give some relief by simplifying this rupees conversion so to save there hard earned money.
                  Reply
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