- Farmers can withdraw ₹25,000 in cash per week, only from accounts which have their names on it.
- People who have weddings scheduled can withdraw ₹2.5 lakh from one bank account in the family.
In the last one week, the Indian government has made multiple changes to their guidelines on cash withdrawals and exchange. The banks are running out of notes, the ATMs are not being able to dispense cash and now the civilians are running out of patience.
Yet again on Thursday, the government has made some changes to the withdrawals and exchange guidelines. This is not only taking a toll on the common people but also putting bank officials in a state of frenzy because even they are muddling up at times with so many changes being made in this state of crisis.
Bankers have said that they are failing to keep up with the pace with which the Indian government has been changing the guidelines almost every other day.
Below is the new set of guidelines, announced by Economic affairs secretary Shaktikanta Das, on Thursday:
**People can only exchange ₹2,000 in cash from the banks (ONCE PER DAY). The earlier limit was ₹4,500.
**People who have weddings scheduled can withdraw ₹2.5 lakh from one bank account in the family. People will also have to self-declare that money will be withdrawn from only one account in the family.
**Central government employees can withdraw ₹10,000 in cash against their November salary.
**Farmers can withdraw ₹25,000 in cash per week, only from accounts which have their names on it.
**Traders in local farm markets can withdraw ₹50,000 in cash from banks.
Last Updated 31, Mar 2018, 7:07 PM