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Economic Affairs Secretary Shaktikanta Das reveals new rules on demonetization of notes.

PM Narendra Modi decision of demonetizing 500 and 1000 notes, has some new rules added on to the list. Since, the…

By Administrator in News on November 17, 2016

PM Narendra Modi decision of demonetizing 500 and 1000 notes, has some new rules added on to the list. Since, the pressure on the banks has been increasing and the ques at ATM’s and Banks is not falling through observations. The government has decided and come up with some new rules to lessen the burden of middlemen and the bank workers.

The Economic Affairs Secretary Shaktikanta Das listed the new measures taken by the government keeping in mind the agenda of removing black money through demonetizing of notes. Shaktikanta Das announced the following rules in the press conference held on Thursday.

Here, are the new rules by the government on the demonetization Rs 500 and 1000 notes explained briefly:-

  1. Permitting Rs 25000 per week by Govt for farmers to withdraw against crop loans sanctioned and credited to their accounts.
  2.  Now farmers can withdraw Rs 25000 per week from their account.The amount received to them would either be by cheque or credited by RTGS account.
  3. Withdrawal for marriage has now been given higher limits, you can now withdraw 2.5 lakhs for wedding expenditure but, this applies to only one family member either parent/groom/bride.
  4. Bank ques with no chance has been seen following so the Govt has decided to reduce he withdrawal amount i.e  Rs 2000 instead of Rs 4500 which will affect from Nov 18,2016.
  5. Employees of Central Govt. up to Group C, Rs 10000 salary in cash can be withdrawn in advance which will be adjusted against the November month salary.
  6. Crop insurance loan of farmers to pay premium has been extended to more 15 days.
  7. APMC markets  registered traders are permitted to draw Rs 50000 per week
    accounts need to be KYC compliant.

The Govt has decided to find out a way to the long ques for which now every member who withdraws cash once will be applied indelible ink, to which he cannot withdraw back cash in a certain period of time.Relaxation reveals here to all the citizens standing in long ques to just survive in the demonetization era by our Govt. Shaktikanta Das statement and announcement has the loud crowd calm in a manner and get them ease.

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