Election Commission Hits Back After RBI Rejects Plea To Raise Cash Limits For Poll Candidates

After RBI shot down the Election Commission’s proposal to relax the weekly withdrawal limit for those contesting the Assembly elections, EC reminded the central bank that it is “imperative” that its directions are “complied with” during poll season. Upset about the “cursory manner” in which the RBI had dealt with its request and asking it to reconsider its stand, the Commission, in a letter to RBI chief Urjit Patel, said that the RBI “has not realised the gravity of the matter”. On January 24, the EC had asked the central bank to relax the weekly bank withdrawal limit from Rs 24,000 to Rs 2 lakh for candidates contesting elections in 5 states.