Telangana News

The central government has now decided to reduce the exchange limit to Rs. 2000, unlike Rs. 4500, allowed per person earlier. The new rule will come into implementation from tomorrow.

Announcing the same in a press conference in Delhi, Economic Affairs Secretary Shaktikanta Das said, “Over the counter exchange of old Rs 500 and Rs 1000 notes, w.e.f 18th November, the existing limit of Rs. 4500 will be reduced to Rs 2000.”

Keeping in mind the wedding ceremonies, Mr. Das further said, “One member of the family, be it father or mother can withdraw up to Rs 2.5 lakhs for a wedding.”

Here are the other key highlights of the conference:

- Farmers can withdraw Rs. 25000 per week, against the crop loans sanctioned by the banks, subject to the loan limits.

- Farmers can also withdraw Rs. 25000 per week, against payments made into their accounts from the Agriculture Produce Market Committee (APMC) Mandis.

- Time limit to pay the premium of the crop insurance loan by farmers to be extended by 15 days.

- Traders registered with APMC, on the other side, can withdraw Rs. 50000 per week from their accounts.