New rules in exchange of old notes

call-moneyEconomic Affairs Secretary Shaktikanta Das has made a new announcement regarding Demonetization ,which is testing the patience of the common man.

He said, Central govt employees up to group C can draw salary advance up to Rs 10,000 in cash that’ll be adjusted against their Nov salaries.

He notified that Task Force held a meeting and a road map has been formed to re-calibrate all ATMs. One member of the family, be it father or mother can withdraw up to Rs 2.5 lakhs for a wedding. Putting a check on the exchange of notes, He said For over the counter exchange of old Rs 500/1000 notes, with effect from Nov 18, Rs 4,500 limit will be reduced to Rs 2000.

Relief to Farmers, Govt has decided that time limit in crop insurance premium cases will be extended by 15 days.Govt decides that 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. They can also withdraw 25k against crop loans sanctioned and credited to their accounts. While Traders registered with APMC markets will be permitted to draw Rs 50000 per week; accounts need to be KYC compliant.