In one more shocking development from the Economic Affairs Ministry, notes exchange for common public at banks is limited to Rs.2,000 from tomorrow against Rs.4,500 to be permitted till today. Government announced a set of new measures to ease the cash crisis in banks. However, farmers and families with their planned weddings have got the respite with latest announcement.
From Friday that is tomorrow, limit for swapping notes is reduced from to Rs.2,000 for each person. Actually, withdrawal limit was raised from Rs.4,000 to Rs.4,500 just four days back and now they lowered it.
With a self-declaration, those families who have got weddings can withdraw Rs.2.5 Lakh one time only from one account. As this is a wedding season, families facing severe crisis with money shortage can breathe freely.
On other side, farmers are also allowed to withdraw up to Rs.25, 000 within a week against loans sanctioned by banks to buy seeds and fertilizers. Farmers can also draw Rs.25,000 from banks in the form of cheques for their agricultural produce.
Traders in vegetable wholesale markets can also withdraw Rs.50,000 in a week to pay for wages.