Govt announces new measures to tackle demonetisation problems
Source: IT News / Source AIR

Imphal, November 17 2016: Government today announced new measures to contain the problems faced by people following the demonetisation of 500 and 1000 rupees notes.

Farmers have been allowed to withdraw 25 thousand rupees a week against crop loan and kisan credit card to ensure sowing in the rabi season.

Briefing media in New Delhi today, Economic Affairs Secretary Shaktikanta Das said, traders registered with Agriculture Produce Market Committee (APMC)markets and mandis have also been permitted to draw 50 thousand rupees in cash per week to pay for sundry expenses like wages.

He said, the time limit for payment of crop loan insurance premium will be extended by 15 days.

Mr Das said, up to 2.5 rupees lakh cash can be drawn from bank account for a marriage during ongoing wedding season.

He said, one member of the family, be it father or mother, bride or bridegoom can withdraw the amount.

The Secretary said, the existing limit of 4 thousand 5 hundred rupees for exchange of old 500 and 1000 rupee notes will be reduced to 2 thousand rupees from tomorrow.

He said, Central government employees up to group C can draw salary advance up to 10 thousand rupees in cash that will be adjusted against their November salaries.

He said, the Task Force constituted for re-calibrating ATMs held a meeting and a road map has been formed to re-calibrate all the ATMs and it will be done soon.

Mr Das said, there is enough cash available with the Government and there is no cash crunch.

He said, currency printing presses are operating at over 100 per cent capacity.

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