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has been considered by the government and decided that for wedding ceremonies, up to Rs 2.5 lakh will be allowed to be withdrawn from account if father or mother or the bride and groom," Das said.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 The Rs 2.5 lakh can be withdrawn from only one account.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
January 28,2020

Bengaluru, Jan 28: The state government is set to allow investors who bought farmland for industrial and other purposes to sell it off if they fail to use it within seven years. The new buyers, however, must utilise the land parcel for the same purpose for which it was allotted.

An amendment bill in this regard will be tabled during the joint session of the assembly, which begins on February 17.

Currently, investors remain tied to unused parcels. Law and parliamentary affairs minister JC Madhuswamy said the amendment to Section 109 of the Karnataka Land Reforms Act, which deals with the purchase of farmland for non-agricultural purposes, would remove hurdles for disposal of such plots. “To prevent misuse of land, the bill makes it mandatory for the new buyer to utilise it for the purpose for which the land was purchased by the first investor,” he said.

The government will also table a bill which seeks to regulate the affairs of religious and educational trusts. It will empower the government to intervene in the affairs of the trusts when irregularities come to light.

“Currently, the government has no role to play when allegations of irregularities and mismanagement crop up against trustees. The bill seeks to address this,” Madhuswamy said. He clarified the government didn’t want to interfere in trusts’ affairs. But some issues, he added, were of concern: trustees illegally selling off the trust property.

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News Network
January 5,2020

Bengaluru, Jan 5: Former Deputy Chief Minister G Parameshwara has said the Karnataka Congress has unanimously decided to appeal to the party high command regarding the appointment of KPCC President and Congress Legislature Party (CLP) leader in the state.

Speaking to reporters, the Congress leader said, "We have decided to gather the opinion of senior leaders regarding the selection of Karnataka Pradesh Congress Committee (KPCC) president and opposition leaders. We will appeal to the high command regarding the same. The party will decide its next course of action."

He made these remarks after a meeting of senior party leaders was held at Parameshwara's residence here on Saturday.

Adding that the Congress leaders discussed the current political scenario in the state, Parameshwara said: "We held a meeting to reiterate that we are not confused and we all are together."

"There has been no personal discussion on who should be the president," he said.

Earlier, KPCC president Dinesh Gundu Rao and former Chief Minister Siddaramaiah had tendered resignation from their respective posts owning moral responsibility for the party's poor performance in the recent by-polls.

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coastaldigest.com news network
May 25,2020

Ernakulam, May 25: Miscreants belonging to self-proclaimed Hindutva outfits have demolished a church set erected for the shoot of a Malayalam film at Kalady in Kerala’s Ernakulam district.

The set was erected to shoot the climax scene of the super hero film Minnal Murali, directed by Basil Joseph and starring Tovino Thomas and newcomer actor Femina.

The incident took place on Sunday. Members of the Antharashtra Hindu Parishad claimed that with the help of their sister outfit Antarashtra Bajrang Dal, they demolished the church set, erected on an island on the Periyar river in Kalady.

Hari Palode, the General Secretary of AHP, an organisation founded by Praveen Togadia, boasted on Facebook that they were not used to pleading to anyone, and decided to demolish the church set that was constructed near the Adi Sankaracharya mutt. 

“When they built such a structure in front of the Mahadeva shrine in Kalady, we said no. We had also submitted several complaints. We do not have the habit of pleading. We decided to demolish it. Our self respect must be protected at all cost,” AHP’s General Secretary Hari Palode wrote on his Facebook post along with pictures of members demolishing the set. 

The post also credited members of the Anrarashtra Bajrang Dal and its Ernakulam Division President Malayatoor Ratheesh for participating in the ‘service work’ of razing the church set. 

Mini Biju, member of Kalady Town panchayat confirmed that the film unit had indeed secured permission from the department before going ahead with the construction of the set.

“They had submitted a letter seeking permission to raise a temporary set. This was back in February before construction began. The panchayat committee had approved this request,” Mini said.

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