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Limit to exchange Old Notes dropped to Rs. 2,000 ;Families can withdraw Rs 2,50,000 for wedding

JAMMU, Nov 17: The limit for swapping notes at banks has been reduced from Rs. 4,500 to Rs. 2,000 for each person from Friday. Economic Affairs Secretary Shaktikanta Das said this would give more people a chance to exchange banned Rs. 500 and Rs. 1,000 notes.

Families can withdraw Rs. 2.5 lakh for weddings but only from one account, based on self-declaration. 

Farmers can withdraw up to Rs. 25,000 a week against loans sanctioned to them to buy seeds and fertilizers and credited to their accounts.

The time limit for the payment of insurance premium on crop loan has been extended by 15 days.

Government employees will have the option to draw salary advance in cash.



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