Withdraw up to Rs 2.5 lakh for weddings: Govt's new demonetisation rules
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The government on Thursday allowed households to withdraw up to Rs 2.5 lakh for weddings from bank accounts which are KYC compliant, Economic Affairs Secretary Shaktikanta said while addressing gathered members of the press and releasing the rules pertaining to the demonetisation drive.
Das added that one member of the family, be it the father or the mother, can withdraw up to the above amount for a wedding.
The limit for over-the-counter exchange of old Rs 500 and Rs 1,000 notes would be reduced to Rs 2,000, from the current limit of Rs 4,500, with effect from November 18.
Further, in a relief to the country's farmers, Das said that farmers are now permitted to draw Rs 25,000 per week against crop loans sanctioned and credited to their accounts. Das added that it has been decided that the time limit in crop insurance premium cases will be extended by 15 days.
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