Cash limits eased for weddings & farmers

In a huge relief to the farmers and families who have an upcoming wedding to make arrangements for, the government has eased the cash limit in the latest modification and relaxation in the demonetisation drive rules. Families can withdraw Rs. 2.5 lakh in one go for weddings but only from one account, based on self-declaration. In the wedding season, the notes ban has led to a severe crisis for families who had withdrawn cash in bulk just before the demonetisation. The rules have also been changed for farmers who will be able to withdraw Rs 25,000 per week against loans sanctioned to them to buy seeds and fertilizers and credited to their accounts. The time limit for the payment of insurance premium on crop loan has been extended by 15 days. This was announced by Economic Affairs Secretary Shaktikanta Das on Thursday morning. The limit for swapping notes at banks has been reduced from Rs. 4,500 to Rs. 2,000 for each person from Friday. Economic Affairs Secretary Shaktikanta Das said this would give more people a chance to exchange banned Rs. 500 and Rs. 1,000 notes. Traders in vegetable wholesale markets can withdraw Rs. 50,000 a week to pay for expenses like wages. Das also announced that Central government employees up to group C will be allowed to draw salary advance up to Rs 10,000 in cash that'll be adjusted against their November salaries.