Thursday, November 17, 2016

Steps by Govt on demonetization to ease the process for public

Withdrawal of  Rs 2.50 lakh permitted from banks for weddings but bank account should be  KYC compliant and in the name of Bride, Grooom or their parents.

Registered mandi traders are allowed withdrawal upto Rs 50,000 per week

Farmers are allowed to withdraw against Crop loans upto Rs 25,000 per week 

Govt has Extended the due date of  payment of crop insurance premium by 15 days

Govt employees up to C Category can draw salary advance up to Rs 10,000 in cash and the same will be adjusted against their Nov salaries

The Government has extended the time limit for submission of Annual Life Certificates up to 15.01.2017. Now Pensioners and  family pensioners are required to submit their Annual Life Certificates on or before 15.01.2017 which was due to be filed in November and December 2016. This has been done to ease the pensioners from rush at banks due to demonetization of Rs.500/- and Rs. 1000/ – currency notes.

ON 21.11.2016
RBI has extended the withdrawal limit per week Rs.50000/- to OD and CC accounts but this limit will not be applicable on personal Overdraft Account.