As it happened: Cash exchange limit to be dropped to Rs 2000 from Nov 18, announces Shaktikanta Das

17 November 2016, 11:25 AM
A file photo of Economic Affairs Secretary Shaktikanta Das (Image: Twitter/ANI)
A file photo of Economic Affairs Secretary Shaktikanta Das (Image: Twitter/ANI)

Economic Affairs Secretary Shaktikanta Das will again brief media with updates on the demonetisation process in India on Thursday at 10am. 

The Department of Economic Affairs has been regularly updating rules and information related to demonetisation process across India. In the last brief on Tuesday, Shanktikanta Das had announced the introduction of indelible ink marks to ensure no repeat customers for cash exchange in banks. 

On Monday, he had introduced the concept of Micro-ATM machines for ease of customers and announced the task force for recalibration of ATMs so that they can dispense new currency notes from Mahatma Gandhi series. 

As it happened: (Top quotes)

#Task Force held a meeting and a road map has been formed to re-calibrate all ATMs; sure that it will be done soon: SK Das

#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: S Das

#One member of the family, be it father or mother can withdraw upto Rs 2.5 lakhs for a wedding: Economic Affairs Secretary Shaktikanta Das

#For over the counter exchange of old Rs 500/1000 notes, with effect from Nov 18, Rs 4,500 limit will be reduced to Rs 2000: Shaktikanta Das

#For wedding ceremonies, upto Rs 2.5 lakh can be withdrawn from the bank account which are KYC compliant: Shaktikanta Das

# The time limit of crop insurance payments will be extended by 15 days to help farmers

#Trader accounts will have to be KYC compliant

#Traders who are registered with the APMC markets will be allowed to withdraw Rs 50,000 per week, like bussiness holders: Shaktikanta Das

#Govt decides that farmers can withdraw Rs 25000 per week from a/c whre farmers receive either by cheque or which is credited by RTGS a/c-Das

Also read: 

Indelible ink marks for cash exchange to weed out repeat customers: Top quotes from Economic Affairs Secy’s brief

Watch | Micro ATMs to be installed, daily cash limit removed, weekly limit set to Rs 24000: Economic Affairs Secy

First Published: Thursday, November 17, 2016 09:33 AM
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