New Delhi: The Reserve Bank of India (RBI) on Monday in an important announcement said that the holders of current, overdraft and cash credit account will be able to withdraw up to Rs 50,000 cash in a week.
However, the RBI also made clear that this enhanced limit for weekly withdrawal is not applicable for personal overdraft accounts.
“Such withdrawals may be disbursed predominantly in ₹ 2000 denomination bank notes,” RBI added.
“Government has allowed farmers to purchase seeds with old high denomination bank notes of 500 from centres, outlets belonging to Central or State governments, PSUs, National or State Seeds Corporations, Central or State Agricultural Universities and the ICAR, on production of proof of identity,” the RBI further said.
Ever since the government introduced its demonetisation scheme, people across the nation are facing trouble to get access to the new currency.
However, RBI at regular intervals are coming up with new announcements and making modifications over exchange, withdrawal limits earlier set by it.
In a major announcement, PM Modi on November 8 had announced that old Rs 500/1000 notes will no longer remain a legal tender.