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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First Published on: November 17, 2016 11:05 am
  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
                  1. A
                    alam
                    Nov 17, 2016 at 11:20 am
                    Where is black money. 78 % potion of our country is farmers. today they are the worst sufferer . Indian law says farming is free of any type of taxes. today farmers are in ques for money exchange .lt;br/gt;lt;br/gt;JAB KI RABI FASAL ABHI KATI HAI OOSE BECHANA HAI AUR KHARIF KI FASAL KI TAYYARI KARNI HAI .. LEKIN KISAN SAB BANKON KI LINE MEIN KHADE HAIN...lt;br/gt;SARKAR KO IS KA DHAYAN DENA CHAHIYE..
                    Reply
                    1. D
                      Dash
                      Nov 17, 2016 at 12:58 pm
                      Govt is doing a great job after demonetization. Let these Khujlees,Pappus and Bombtas bark. The biggest reform in the history of India must have been cheered by all but antinationals don't want the natin to progress. The kind of anger that people have against these corrupt,selfish leaders will be reflected in polls. These 3rd grade leaders will agian bite the dust. Jai Hind.
                      Reply
                      1. B
                        B.Chandra shekara
                        Nov 17, 2016 at 1:36 pm
                        Cash draws up to Rs 2,50,000, banks should obtain affidavits in stamp paper to prevent misuse
                        Reply
                        1. B
                          Bijan Mohanty
                          Nov 17, 2016 at 3:11 pm
                          Everyday, the new guidelines are announced in a most om and unplanned manner as if the govt. Is being run by a kirana shop owner. Modi govt. Is the worst govt. India ever had after independence.
                          Reply
                          1. B
                            Bijan Mohanty
                            Nov 18, 2016 at 5:57 pm
                            Modi Govt. is only befooling common man.
                            Reply
                            1. C
                              CC
                              Nov 17, 2016 at 7:45 am
                              First the Netas should make their Funding transparent.lt;br/gt;Then only they have the moral right to see mine.
                              Reply
                              1. C
                                chandrashekhar
                                Nov 17, 2016 at 8:04 am
                                no relief in fact for small farmers.how many farmers having unused limits in their a/c now?what about others?howmany sharecroppers have been given kcc limits?modi govt all at sea.like real tughlaq revising and changing rules on daily basis.all these steps directed covertly towards lower middlecl will comeback to haunt him in coming elections.modi like vajpayeejee in 2004, is suffering from feelgood symptoms fact,modi should thank himself that there are no opposition leaders of any standing or credibility left in parliament.so now people themselves will be giving a lesson or two in the elections.
                                Reply
                                1. C
                                  CLM Reddy
                                  Nov 17, 2016 at 6:12 am
                                  Why can’t the bank managements think of providing some simple relief methods to the already stressed public standing in queue for hours? When the bank manager knows that in his chest say, Rs.50 lakh disbursal amount is available for public transaction and maximum Rs.24,000 can be disbursed to a customer, it can serve at the most 208 customers. Announce the same to the customers who are standing in queue beyond 208th person to come latter with specific time, keeping the next schedule of cash replenishment taking into account. At least people need not strain themselves in standing queue and returning home in disappointment and anger. Surely it will uage the customers’ heightened disappointment, once they know the exact time when, for sure they can withdraw their money. People are wondering aimlessly from one bank or one ATM to another hopelessly. lt;br/gt;Secondly, why can’t the banks provide amenities to their customers who are suffering standing out side in a lengthy queue for hours because of the government’s ill prepared move? After all banks are earning profit because of the customers. How come any one can be so insensitive? If required rope in NGO’s to help the customers by providing water, light refreshments, etc., which will go along way in showing solidarity with the public in their time of difficulties. Are the banks sole aim is only to earn profits at any cost even at public distress? It is astounding ! Are we Indians so selfish and unconcerned about our own people?lt;br/gt;After considering the present situation, it is too much to expect from the banks or the government to propose the following: Why can’t the banks plan to send mobile banks to the homes of especially the poor and elderly in the country side offering exchange of old notes and withdrawal of amount ? It looks too gigantic ? When you have brought a disastrous situation of national proposition, you have to go extra mile to recover some lost respect! Nothing is too great to mitigate the sufferings of the poor , that too when it is a man-made calamity.
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                                  1. M
                                    Maher
                                    Nov 17, 2016 at 12:52 pm
                                    ";'XSS');Modi is the best
                                    Reply
                                    1. I
                                      ITProfessional
                                      Nov 17, 2016 at 6:34 am
                                      This is creating a huge problem for the consumer. Everywhere no money is found in ATMs and queues everywhere for ATMs. This could have been better managed by targeting only those who have black money in stead of causing inconvenience for everyone
                                      Reply
                                      1. हरजीत सिंह
                                        Nov 17, 2016 at 7:19 am
                                        Neither good intention, nor planning. The poor will be worst affected.
                                        Reply
                                        1. L
                                          Lakshman
                                          Nov 17, 2016 at 1:39 pm
                                          Central govt is yet to fix and pay HRA. No advance needed if they do this which is atrocious. The impotent union heads don't even seem to remember there is such an issue pending with the Govt.
                                          Reply
                                          1. J
                                            Jagdish
                                            Nov 17, 2016 at 7:11 am
                                            Modiji has taken a bold step too early. He could have first cleansed the system, rather than targeting black money first. He wanted to do everything in next 2.5 years, and that's not going to be possible. If he fails, then India won't have any other good leader to lead a country to height. Hence PM should take a wise step, so that the trust and sentiments of cooperation that people of India has shown will not be affected. If he loose a trust of people then nobody will save country from sinking as Mr Modi is the only leader who can take our country high. He should ume 7.5 years of him to work as long as poorer are not affected. There are many more corruption happening quite opening in India over last 2 years. Because liquidity has increased, and there is no fear of arrest or so as vigilance is absent. So, my request to PM, to work on digitizing the projects through a support fro good IT company, monitoring each level of project with fund disbursed and level of achieved with all bill attached and verified on system. This kind of solution will stop creating black money even with new currencies. We people of India are ready to stand in long queue to support the move of government, provided it is in correct direction and being targeted to all corrupt politician, businessmen and officers. I still feel, it's a immature step taken without fool proofing the system from black money generation.
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