Currency exchange limit cut to Rs 2,000; can withdraw Rs 2.5 lakh for weddings
Friday, November 18, 2016 IST
Individuals can just exchange Rs 2,000 in cash over the counter out banks, the government declared on Thursday, uncovering a pile of measures went for helping agriculturists hold over mayhem activated by an amaze review of high-esteem money.
Economic affairs secretary Shaktikanta Das told columnists that families with weddings can pull back Rs 2.5 lakh. They should sign a self-announcement report saying the cash was drawn against just a single record – father, mother, groom or bride.
What's more, from Friday, the cutoff of the one-time trade of the now-scrapped Rs 1,000 and Rs 500 notes is altered at Rs 2,000. As far as possible was Rs 4,500.
The move is gone for decongesting the winding lines outside banks and ATMs crosswise over India taking after a week ago's withdrawal of banknotes.
The Center additionally allowed focal government representatives up to Group C classifications to pull back Rs 10,000 in real money against their November compensation.
PM Narendra Modi's choice to scrap Rs 1000 and Rs 500 notes was gone for stamping out unlawful money and fake cash from the economy.
However, an uneven execution has left poor people, little dealers, ranchers and ladies left with little trade out hand to try and meet day by day costs.
This hosts gave ammo to resistance gatherings that have focused on the administration over the "counter poor" move in Parliament. However, the Center proceeded onward Thursday to fitting some of these provisos.
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