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Modi government announces fresh new measures after demonetisation

The Narendra Modi government on 8th November midnight banned the Rs 500 and Rs 1000 in India. This decision has created a panic like situation for the bank employees and common people. Old notes, are said to be exempted till 24 November, at exempted places, including the railways, government hospitals, medical shops, airports, metro stations and crematoriums, besides others listed in earlier orders, Economic Affairs Secretary Shaktikanta Das told.

1. Farmers should get credit fertilisers. Famers can withdraw up to Rs 25,000 per week from bank account, provided they have done complete KYC at the bank.

2. Payment should be made by Cheque at APMC mandi and for Kharif crops. Traders can withdraw Rs 25,000 per week according to KYC complainant.

3. All registered traders at the APMC mandi are permitted to withdraw Rs 50,000 per week. Business entities can also withdraw Rs 50,000 per week.

4. The Crops Insurance premium, Government Of India crops loans time limit should be for 15 days.

5. Wedding Ceremony, Families having marriage ceremony at home, per person can withdraw Rs 2,50,000 from bank account. The person who withdraws from bank account it should father, mother or those who getting married.

6. The exchange of old notes of 500 and Rs 1000 into a new cash limit will be reduced to Rs 2,000 per person from 18th November onwards. The current limit stood at Rs 4,500.

7. Beneficial for Central government employees of group C like Defence, Railways etc. can withdraw advance salary  should be adjusted up to Rs 10,000.

This decision should be reduced the pressure of bank employee and person who standing in a long queue.


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