- The govt says citizens can withdraw ₹2.5 lakh for weddings
- However, the RBI demands 'proof of marriage' first.
- Proofs include invitation cards, advance payment receipts.
Though the government has made much of its 'relaxation' for weddings, the ground realities are far different. A series of forms and complicated rules make withdrawing your own wedding funds a painful experience.
Stiff guidelines set by the RBI for withdrawal of ₹2.5 lakh for marriage have made it difficult for banks to disburse the amount, making the government's move to ease cash crunch for wedding families a non-starter.
Though bankers received procedural circular in this regard on Tuesday, withdrawal for wedding purpose is yet to make headway, a bank official said.
"It's a test of patience for me. My bankers are offering lame excuses. The procedures that the bank laid before me is too complicated. I may have to postpone the marriage. The groom's family is also facing the same predicament," lamented a customer, Phakir Charan Pramanik.
The bankers quoting RBI circular said the application should be in a prescribed format and accompanied by documents on "evidence of the wedding, including the invitation cards, copies of receipts for advance payments already made, such as marriage hall booking, advance payments to caterers."
Like Pramanik, there are many for whom the department of economic affairs announcement that ₹2.5 lakh cash per wedding could be withdrawn has been meaningless.
"The government announced the withdrawal relaxation limit for wedding functions. I have been to the bank every day since the relaxation declaration. However, each time, I have been turned way by the bankers by stating that they are yet to receive the official communication and guidelines in this regard. Today I went to the bank again. I do not know whether I will be allowed ₹2.5 lakh withdrawal from my account. Time is running out for me. I have fixed my son's marriage on 26 November," said a local resident.
Every day, we are forced to say no to such account holders, a bank official said.
Partha Majumdar, the manager of the Oriental Bank of Commerce, Kendrapara, said, "Unless the cash crisis situation improves, the bank will come to a standstill if such huge withdrawal is allowed. We are receiving about ₹10 lakh daily, and it gets exhausted in three hours. Customers are also returning home unable to withdraw money".
Following the announcement, the bankers are encountering persistent queries from anxious account holders with upcoming marriages in their families.
Last Updated 31, Mar 2018, 7:01 PM IST