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Exchange Limit on Rs 500, 1000 notes Decreased to Rs 2000 from Rs.4500 Again newsreporter.in

Exchange Limit on Rs 500 1000 notes Decreased to Rs 2000 from Again

New Delhi: Economic Affairs secretary Shaktikanta Das on Thursday told to media that "For over the counter exchange of Rs 500, Rs 1000 notes, the limit would be reduced from RS 4,500 to Rs 2000 from November 18."

He further told that families can withdraw Rs. 2.5 lakh for weddings from one account and only one member of the family, be it mother or father could draw up to RS 2.5 lakhs for the wedding. On the other side, farmers can withdraw up to Rs. 25,000 a week. The account from which money is to be withdrawn have to be in the name of the farmer and will be subject to loan limits. The decision has been made to ease a massive cash crunch after the currency ban.

2016-11-19 18:43:48 by Sandra Collins

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