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has been considered by the government and decided that for wedding ceremonies, up to Rs 2.5 lakh will be allowed to be withdrawn from account if father or mother or the bride and groom," Das said.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 The Rs 2.5 lakh can be withdrawn from only one account.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

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
July 8,2020

Kasaragod, Jul 8: The meeting of Kasaragod district-level corona control core committee has resolved to make pass mandatory for vehicles to bring vegetables and fruits to Kasaragod from Dakshina Kannada and other parts of Karnataka.

Pass will be issued by RTO. Employees, including the driver of the vehicle, must visit the nearest primary health facility once in seven days and undergo a health check and submit a medical officer's certificate.

District Collector Dr D Sajith Babu, who presided over the meeting, said that only those vegetable and fruit vehicles that produce medical officer's certificate and RTO's passes will be allowed to cross the border.

Meeting, the RTO has decided to convene an emergency meeting of vegetable and fruit merchants.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 26,2020

Bengaluru, Apr 26: Two businessmen brothers, Tajammul Pasha and Muzammil Pasha, in Karnataka's Kolar district have set out to help people in need amid the lockdown over the COVID-19 pandemic by selling their land for Rs 25 lakh.

On seeing daily wage labourers and their families in Kolar suffer during the lockdown, the brothers said they decided to sell their land and use the money to buy essentials and food grain for a large number of poor people.

The brothers also bought oil and cereals with the money. Then they set up a tent next to their house and started a community kitchen to make food for labourers and homeless people.

"Our parents died early. When we shifted to our maternal grandmother's place at  Kolar, people from communities, Hindus, Sikhs, Muslims helped us survive without any religious bias," said Tajammul Pasha, visibly emotional.

The Pasha brothers are into banana cultivation and real estate. Tajammul was five and his sibling Muzammil was three when they lost their parents. They had to move from Chickbalapor to Kollar, where their grandmother lived.

"We were brought up in poverty. We survived because of the support of people of all communities and religions. We have signed the society agreement bond and handed it over to our friend who purchased our site and gave the money," the brothers said.

Once the lockdown ends and the land registrar's office opens, the remaining steps to transfer the land will be completed, they said.

So far the two brothers have supplied food grain, oil, sugar and other essentials to over 3,000 families. They have also given hand sanitizers and masks to the poor.

The Kolar administration has issued passes to their volunteers so that they can help in this difficult time.

The number of coronavirus cases in India has increased to 24,506, including 775 deaths, the Home Ministry said today, adding that 1,429 cases and 57 deaths were reported in the last 24 hours.

Amid a countrywide lockdown to check the spread of the highly contagious illness, which began on March 25, the government last night issued an order to allow neighbourhood shops to remain open with conditions; malls across India continue to remain shut.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
August 7,2020

Bengaluru, Aug 7: Dr Mohammed Yusuf, chairperson of the Karnataka State Board of Auqaf, passed away at a private hospital in the city today following a brief illness. He was 74.

Dr Yusuf was an industrialist and was known for his philanthropic activities. 

A veterinarian, Dr Yusuf had quit the government job and set up business in Bengaluru and Dubai decades ago and has earned considerable success.

He was re-elected as Board of Auqaf chief in January this year. He had held the post more than once in the past. 

He will be buried at the graveyard near Masjid-e-Muzammil which was built by himself at Govindapura, source said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.