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Currency overhaul rules for the day: Cash exchange limit down to Rs 2,000; families with weddings can draw Rs 2.5 lakh

Demonetisation Of Rs 500 And Rs 1000 Currency Notes Is Perhaps One Of The Most Dynamic Decisions By The Modi Government. With New Set Of Rules Being Introduced Every Day, Here Is Your Recap For Rules Which Will Be Implemented From Friday Onwards.

News Nation Bureau | Edited By : Arshi Aggarwal | Updated on: 18 Nov 2016, 11:30:42 AM
From Friday, families with upcoming wedding ceremonies will be able to withdraw Rs 2.5 lakh once (Representative Image: PTI)

New Delhi:

Economic Affairs Secretary on Thursday announced a fresh set of rules for demonetisation process in India. While some regulations came as relief for people, others spelled additional hassle. But as government has repeatedly stressed all decisions are being made to make the new and valid currency more accessible to all. 

Here are the seven big decisions to be implemented from Friday: 

1. Withdrawal of amount up to Rs 2,50,000 for wedding ceremonies from account of either parent/bride/groom. 

2. Limit of Rs 4,500 for over the counter exchange of old 500, 1000 rupees notes reduced to Rs 2,000 from Friday to enable larger number of people to exchange notes. 

3. Farmers can withdraw up to Rs 25,000 per week against crop loans sanctioned by banks, subject to loan limits. 

4. Farmers can withdraw up to Rs 25,000 per week against payments made into their accounts from APMC Mandis.

5. Traders registered with APMC markets can withdraw up to Rs 50,000 per week from their accounts. 

6. Time limit to pay premium of crop insurance loan by farmers extended by 15 days. 

7. Central govt employees, up to Group C, can draw salary advance up to Rs 10,000 in cash; to be adjusted against November salary. 

Also read:

Watch | Govt eases cash withdrawal norms for farmers, traders, weddings; drops cash exchange to Rs 2000 from Rs 4500: Top highlights

Huge relief for farmers, families celebrating weddings as govt eases cash withdrawal limits

Indelible ink marks for cash exchange to weed out repeat customers: Top quotes from Economic Affairs Secy’s brief

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First Published : 18 Nov 2016, 08:20:00 AM