The government has announced some changes sin the limits of withdrawal of money due to the d3monetisation efforts. This is being welcome from all the people. Economic Affairs Secretary Shaktikanta Das has announced that farmers can withdraw up to Rs 25,000 per week from the payment they have received for agriculture produce in the form of cheque or RTGS.

“Government has decided that time limit in crop insurance premium cases will be extended by 15 days,” Das said. The Finance Ministry will allow registered traders at the mandis to withdraw up to Rs 50,000 per week to meet the labour costs. All the accounts of farmers and traders must be Know Your Customer (KYC) compliant, Das said.

“Up to Rs 2.5 lakh cash can be drawn from bank account for a marriage during ongoing wedding season,” Das said. 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.

Central government employees, up to the 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.

These announcement has come as a huge relief for the people who are having marriages and it is a great help to the farmers.

By Premji