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:
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