The exchange of old Rs 500/1000 notes Bank Counter will be reduced to Rs 2000 from Rs 4,500 limit, with effect from Nov 18. The same was announced by Economic Affairs Secretary Shaktikanta Das whike briefing the media.
He also stated that a road map has been formed to re-calibrate all ATMs, which will be done soon.
The government announced a slew of measures to ease the cash crunch in the economy and also bring some relief to farmers, agri-traders and families with weddings that have been the worst hit due to the demonetization.
To ensure proper sowing, government has decided to permit farmers to withdraw upto Rs 25,000 per week against crop loans.
Since it is wedding season. It has been decided that upto Rs 2.5 lakh can be withdrawn from the account of mother and father which are KYC compliant.
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.