Om Namo Venkatesaya

RBI eases restrictions on cash withdrawals

The RBI said that cash credit account holders can now withdraw up to Rs 50,000 in a week. This decision will help small traders to do their businesses. But, this facility will be applicable only for those accounts which are active for the past 3 months. It also allowed farmers to purchase seeds with old denomination notes at centres run by governments and public sector undertaking units on the production of identity card. The RBI allowed withdrawals up to Rs 2.5 lakh in cash for marriages but imposed several restrictions.