Rs 2.5 lakh withdrawal limit set for households celebrating weddings

Wedding apparel stores and jewellery shops have downed shutter,citing lack of business since the demonetisation move.

By: Express Web Desk | New Delhi | Updated: November 17, 2016 6:02 pm
bank, bank withdrawal, bank withdrawal limits, wedding, withdrawal for wedding, wedding money, money for wedding, Rs 2.5 lakh, Rs 2.5 lakh limit A member of the family, be it father or mother, can make the one-time withdrawal up to Rs 2.5 lakhs. (Source: Reuters)

The government’s decision to demonetise high denomination notes coinciding with the wedding season had been a cause of sorrow for many households. Offering some respite to families celebrating, on Thursday, Economic Affairs Secretary Shantikala Das announced that those in need of money can withdraw up to Rs 2.5 lakh cash per wedding.

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Das said a member of the family, be it father or mother, can make the one-time withdrawal upto that limit. “Up to Rs 2.5 lakh cash can be drawn from bank account for a marriage during ongoing wedding season,” Das said.

The move comes as a relief to not only the people who have weddings lined up in their families, but also to the shopkeepers whose business has been heavily affected since old Rs 500 and Rs 1000 notes were demonetised on November 8. Wedding apparel shops and jewellery shops have downed their shutters, citing lack of business since the announcement was made.

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With the government allowing people to get Rs 2.5 lakh in cash, it will be less daunting to arrange for currency notes of smaller  denominations to pay vendors, ranging from florists to mehendi artists, who generally accept only cash. Apart from this, central government employees, up to group C, will be allowed to draw their salary in advance up to Rs 10,000 in cash. 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.

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  1. P
    Prasad Seshadri
    Mar 8, 2017 at 5:28 am
    You can use any amount of your money for weddings. It is only limit to CASH payment. They want all weddings vendor to go digital as well or make their revenue traceable.
    Reply
    1. R
      Ranjodh
      Nov 22, 2016 at 6:33 am
      It is only decision takes place...to make stupid to people....because every bank manager denies to give ...ordered money ..for wedding.....
      Reply
      1. K
        Kulbhushan Singh
        Nov 17, 2016 at 1:20 pm
        Excellent this is only paper who's correspondents reported 1971 war, Allahabad High Court Judgment and Emergency now please post accurate information concerning poorer of poor to middle cl families Big Salutes to all your tem
        Reply
        1. A
          ashok s
          Nov 17, 2016 at 8:18 am
          As their was critism of bjp politician to cover him govt is taking such steps. In surgical strikes such cross firings are allowed . I saw builders have again started their every activities . we poor netizens how sincerely believe in govt will be always back stabbed..
          Reply
          1. C
            Chandra Prakash
            Nov 17, 2016 at 9:15 am
            What Happens with 2.5 lacs? You cannot purchase nuts also. Govt.should have allowed to draw atleast 50 Lacs.....
            Reply
            1. D
              Dalip
              Nov 18, 2016 at 5:38 am
              Whether it's 2.5 lakhs each for groom and bride side (Total - 5 Lakhs) or only 2.5 lakhs per wedding??
              Reply
              1. N
                Not this
                Nov 18, 2016 at 11:39 am
                I would suggest you to use your brain atleast once in a year ... if 50 Lacs is allowed ... what will be left for other people in the bank? Also, how many wedding do you see uses 50 Lacs? My marriage is in 2 weeks and I need 50k in cash ... else we are able to manage through electronic transactions
                Reply
                1. S
                  Sankaran Krishnan
                  Nov 17, 2016 at 7:12 am
                  This should have been done few days back and made the families happier for those who are all conducted the marriages in the last few days and anyhow it is a good relief for those who are conducting such marriages. Hope fake marriage invitations will be checked and then release the payment to avoid such duplication !!!
                  Reply
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