Demonetisation: Govt reduces withdrawal limit, eases rules for farmers
Department of Economic Affairs (DEA)'s Secretary, Shaktikanta Das on Thursday announced new rules pertaining to the demonetisation move by the government.
The rules include the following:
1. Exchange of old currencies have been reduced to Rs 2000 from Rs 4500 from November 18.
2. Farmers can withdraw up to Rs 25,000 per week against crop loans.
3. APMC-registered traders can withdraw up to Rs 50,000 per week.
4. Crop insurance payment deadline has been furthered by 15 days.
5. One member of a family, either father or mother, can withdraw up to Rs 2.5 lakh for a wedding.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.