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has been considered by the government and decided that for wedding ceremonies, up to Rs 2.5 lakh will be allowed to be withdrawn from account if father or mother or the bride and groom," Das said.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 The Rs 2.5 lakh can be withdrawn from only one account.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
May 10,2020

Kanhangad, May 10: Kasaragod district has become free from COVID-19 on Sunday.

The last remaining patient has been tested negative for coronavirus, said district medical officer Dr. A. V. Ramdas.

He added that the officials are proud to have been able to cure all 178 COVID-19 patients in the district.

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News Network
February 6,2020

Bengaluru, Feb 6: Chief Minister B S Yediyurappa inducted 10 BJP MLAs to his Cabinet here on Thursday. They are among the 17 Congress-JD(S) MLAs who defected last year.

The much-delayed expansion came almost two-months after the MLAs won the bypolls held in December. During the period, the defectors camp exerted pressure on Yediyurappa to expand the Cabinet and include all the MLAs who contested the bypolls.

The new ministers sworn in are S T Somashekar, Ramesh Jarkiholi, Byrati Basavaraj, K Gopalaiah, B C Patil, Dr K Sudhakar, Shivaram Hebbar, Anand Singh, Narayana Gowda and Shrimanth Patil.

One of the 11 MLAs from the defectors camp, Mahesh Kumathalli was not inducted as he hailed from the same constituency as Deputy Chief Minister Laxman Savadi. Three others, MTB Nagaraj, H Vishwanath and R Shankar are likely to be inducted in June.

Governor Vajubhai Bala administered oaths to the new ministers at Raj Bhavan, where hundreds of supporters came to witness the event. Authorities had also beefed up security arrangements outside Raj Bhavan for the ceremony.

Earlier, Yediyurappa was to induct 10 newly-elected MLAs and three old-timer BJP MLAs. But on Wednesday evening, the BJP's central leadership stepped in to decide that only 10 newly-elected MLAs should be inducted after disgruntlement surfaced among BJP MLAs over former minister C P Yogeeshwar's induction.

Several MLAs led by chief minister's political secretary MP Renukacharya had raised a hue and cry over allotting berths to those who lost Assembly polls. A group of 13 to 15 MLAs had also demanded adequate representation to Kalyana Karnataka region, alleging that the new Cabinet had excess representation from few districts of Karnataka, such as Bengaluru Urban and Belagavi.

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News Network
May 22,2020

Bengaluru, May 22: The Karnataka government, which has fixed Rs 200 as fine for not wearing masks and covering faces to contain coronavirus spread, has collected Rs 3.43 lakh from 15,000 people as fine from May 5 till date.

"From May 5, the government has collected Rs 3,43,000 by fining 1,715 citizens for nor wearing masks or covering their faces," the Bruhat Bengaluru Mahanagar Palike (BBMP) Commissioner said in a statement.

Here is a zone-wise chart showing fines that have been collected:

Meanwhile, Karnataka Medical Education Minister Dr K Sudhakar said the state has reached its target of scaling up to 10,000 tests per day by conducting 11,499 tests on Thursday. In Kalaburagi, where the first COVID-19 case was confirmed in the State, conducted over 1000 tests yesterday.

"By conducting 11,449 COVID-19 tests yesterday, we reached our target of scaling up to 10,000 tests per day Kalaburagi that saw the first COVID-19 case in the state conducted over 1000 tests yesterday," Sudhakar said.

As per the Union Health Ministry, Karnataka has 1,605 positive cases, of which 571 have been recovered and discharged and 41 have succumbed to the infection.

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