During the falling of the wedding season, number of people facing a major cash crunch due to demonetization. On Thursday, Government has made some relief for those who are facing a big problem with currency change as now one member of the family, be it father or mother can withdraw up to 2.5 lakhs for a wedding by using a PAN card and KYC documents complaint.
Government also announced that upto Rs 2.5 lakh can be withdrawn from the bank account which is KYC compliant, for wedding ceremonies. Das said, “One member of the family, be it father or mother can withdraw upto Rs 2.5 lakhs for a wedding.” The amount can be withdrawn on producing the PAN card details and also providing an undertaking that no other member will withdraw such an amount for the same purpose.
Further, the Government has also made an announcement for the farmers, now a farmer can withdraw upto Rs 25,000 per week against crop loans sanctioned and credited to their accounts. Economic Affairs Secretary Shaktikanta Das at a media brief said, “Farmers can withdraw Rs 25000 per week from a/c where farmers receive either by cheque or which is credited by RTGS a/c-Das. Government has decided that time limit in crop insurance premium cases will be extended by 15 days.”
In addition to this, traders who are registered with the Agricultural Produce Marketing Committees can withdraw up to Rs 50,000 per week for a smooth procurement process. Das said, “Agriculture is an important component. We are at the commencement of the Rabi season. We want to ensure farmers get smooth supply of fertilizers and other items.”
“To enable more people to avail of over the counter exchange of old notes, the limit of Rs 4,500 per withdrawal will be reduced to 2000,” Das said.