Economic Affairs Secretary Shaktikanta Das is briefing the media on demonetisation and is likely to give further updates on the government’s move. It’s decision to demonetise Rs 500 and Rs 1,000 notes, though welcomed by people across the country, has left many in the lurch and utter state of confusion.
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Earlier on Sunday, Das had clarified that concession, given to farmers and to those having wedding in house, to withdraw up to Rs 25,000 per week from their bank accounts has been not been withdrawn by the government. In addition, traders who are registered with the Agricultural Produce Market Committee were allowed to withdraw up to Rs 50,000 per week for a smooth procurement process.
While concessions have been made for families that have an forthcoming wedding, the amount of money that an individual can exchange by handing over the old Rs 500 and Rs 1,000 notes in banks has been lowered to Rs 2,000 since last Friday.