Govt tightens notes exchange norms, lowers limit to Rs 2,000

November 17, 2016

New Delhi, Nov 17: Government today lowered the exchange limit for now-defunct 500 and 1,000 rupee notes to Rs 2,000 from the existing cap of Rs 4,500, effective tomorrow.

delhibank

Among other measures, it has allowed up to Rs 2.5 lakh cash withdrawal from bank account of a bride or groom or their parents for a marriage during the ongoing wedding season.

"To enable larger number of people to get benefit of over-the-counter exchange of Rs 500 and Rs 1,000 notes, the existing limit of Rs 4,500 will be reduced to Rs 2,000 with effect from tomorrow," Economic Affairs Secretary Shaktikanta Das told reporters.

The over-the-counter exchange of Rs 500/1,000 in return of new currency will be available "once per person till December 30".

"This will enable larger number of people to exchange notes. There is no cash shortage and enough cash is available," he said.

The decision comes a day after the government directed banks to put indelible ink mark on the right index finger of persons to screen them from using the exchange facility more than once.

Prime Minister Narendra Modi had on November 8 demonetised Rs 500 and Rs 1,000 notes in his bigger war against black money, terror financing and counterfeit notes.

Since then a lot of representations have come to Prime Minister and Finance Minister to ease withdrawal norms for wedding purposes.

"This has been considered by the government and decided that for wedding ceremonies, up to Rs 2.5 lakh will be allowed to be withdrawn from account if father or mother or the bride and groom," Das said.

He said the account has to be KYC compliant and self declaration has to be given to the bank. The Rs 2.5 lakh can be withdrawn from only one account.

Comments

Naren kotian
 - 
Friday, 18 Nov 2016

One guy is mentioning Reddys marriage and fyi ... It is his money and IT deparatment has clear idea about it and they will ask him to make payment ,if there is any discprepancy ...as per him .. everything was prepaid and planned long back ... when muslim dominated congress was in power sahara chief arranged lavish wedding , mulayam did even more lavish wedding ... adara bagge this khan grace thirbokis dont comment .
saleem , if you cannot pay for autowala , use public transport .. who cares ..
george , 2.5 lakhs in cash . now caterers , shops , hall accept online transfers or via cheque now and gold business also accepts cheque ..use cash for other expenses ... cmon yaar common man can easily make wedding with just 2.5 lakhgs ...if u want to spend more and if u dont have cheque and account .. it is really then u r a black money hoarded and believed in parallel banking system ... yaarge bidthiya guru ... one particular segment can accept ur vesrion ashte .
Mohammed , hahaha ... u might be tax payer ... but all over india tax payers no is just 1.3 crores .. out of 130 crore ... spread this message in your group ... no body cares ... we support our regime and there are crores of people backing it ... why dont u ask ur community members to open account and withdraw money via atm ... and moreover here people get bitti bhagyas ..simple for the sake of hating we should not hate ...
Porkis frustration can be clearly understood :) hahaha ... bholo bharath mata ki jai ... vande mataram ... hara hara modi jai jai modi ...

Rikaz
 - 
Thursday, 17 Nov 2016

Modiji, poor are suffering....you said in the Goa riches will be suffering but in fact it is other way around....please fix it as soon as possible before its gets in to problem....

Mohammed
 - 
Thursday, 17 Nov 2016

Y are we applied indelible ink on our fingers?
Are we not tax payers?
We go to bank for our money earned by us,
We must strongly oppose this move
If you all agree, spread this message to all

Althaf
 - 
Thursday, 17 Nov 2016

Fenku ye kya kar diya.. Gareebon ki badduwa khali nahi jayegi.. Abki baar No fenku sarkar.

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News Network
June 25,2020

Mangaluru, Jun 25: Teacher-turned-serial rapist-cum-killer Cyanide Mohan Kumar was sentenced to life imprisonment in the 20th and final case by Sixth Additional District and Sessions Judge Sayeedunnisa on Wednesday.

Cyanide Mohan Kumar (57) was declared guilty in the 20th rape and murder case on Saturday and the judge had pronounced the order before a small group of advocates in the court hall. Cyanide Mohan who appeared in the court hall via video conferencing facility from Hindalga central jail in Belagavi did not show any emotions.

The 25-year-old victim from Kasaragod was working as a cook in a hostel and met Mohan, serving as a teacher in 2009. He had met her at her home on many occasions and had promised to marry her.

On July 8, 2009, she left home on the pretext of visiting a temple in Sullia and

did not return. When her family tried to reach her on phone, Cyanide Mohan had told they were married and would return home soon.

Mohan took her to a toilet in a bus stand in Bengaluru on July 15, 2009, and had left with her jewels after ascertaining that she had died by consuming Cyanide. No sooner Mohan was arrested in October 2009, the family of the victim had recognised him from the newspapers. The police also recovered the victim’s jewellery from the house of Mohan’s second wife.

Sixth Additional District and Session Court convicted Mohan under sections of IPC 302 for murder with life sentence and Rs 25,000 fine, IPC 366 for kidnapping with ten years of rigorous imprisonment and Rs 5000 fine, IPC 376 for rape with seven years of rigorous imprisonment and Rs 5000 fine, IPC 328 for poisoning with ten years of imprisonment, IPC 394 for causing hurt while robbing with 10 years of imprisonment and Rs 5000 fine, IPC 392 for theft with five years of imprisonment, IPC 201 for destroying evidence with seven years of rigorous imprisonment and Rs 5000 fine, IPC 417 cheating and one year of imprisonment.

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News Network
March 26,2020

Bengaluru, Mar 26: Karnataka Primary and Higher Education Minister Suresh Kumar on Thursday clarified that the SSLC examinations have not canceled as being claimed by many. 

Taking to Twitter, he said there was confusion among students and parents as wrong news was published in a some of the news papers and even in social media also.

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coastaldigest.com news network
June 27,2020

Mangaluru, June 27: The district health authorities are likely to conduct mass random testing for Covid-19 in Ullal town on the outskirts of the city in the wake of detection of several new coronavirus positive cases there in past couple few days.  

An elderly woman from Azad Nagar in Ullal was died of coronavirus earlier this week. Many others including a couple of policemen also tested positive for the deadly virus in vicinity.

Following this, local elected representatives including MLA U T Khader and religious leaders of Ullal held a meeting regarding taking steps to control the spread of the virus. In the meeting Mr Khader suggested the authorities to conduct random testing in Ullal town. 

Apart from Azad Nagar, covid-19 cases have surfaced in Kodi, Bangera Lane and in the surroundings of police station and Sahara Hospital triggering panic among people. Hence, the authorities are like to conduct random testing of auto rickshaw drivers, fishermen, street vendors among others. 

Meanwhile, several mosques in Ullal have reportedly decided to suspend congregational prayers temporarily.

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