1-min read

Demonetisation: Measures Taken by the Govt to Ease Cash Shortage

Tushar Dhara |

Updated: November 14, 2016, 2:20 PM IST
facebook Twitter google skype whatsapp
Demonetisation: Measures Taken by the Govt to Ease Cash Shortage
People queue outside HDFC ATM, Noida Sector 34.

The big bang demonetisation scheme announcement by Prime Minister Narendra Modi on November 8 was supposed to go smoothly without a hitch. But the fallout has led to severe cash shortages in the economy and irate citizens.

Here is a list of additional steps the government has announced to ease citizens pain.

- Deadline for payment of metro rail tickets, purchase of medicines, LPG gas cylinders, railway catering, electricity and water bills and ASI monument entry tickets extended till Nov. 24

- Government has included paying household utility bills, fuel, taxes, fees and purchases from co-operative stores in the November 24 Deadline

- People can complain to District Magistrates if hospitals, caterers, tent houses etc. do not accept cheques/demand drafts or online payment transfers

- Government of Assam has arranged mobile banking vans at certain Hospitals for carrying out emergency banking transactions. All Banks have been advised to arrange mobile banking vans to the extent possible at major hospitals

- Banks have been advised to make arrangements for separate queues for Senior citizens

- The issuance of the Rs. 500 notes has already commenced

- Banking correspondent now allowed to withdraw cash multiple times as opposed to only once a day earlier

- Banks have been advised to increase the exchange limit over the counter from the existing Rs. 4000 to Rs. 4500

- Banks have been advised to increase the cash withdrawal limit at ATMs from the existing Rs. 2000 to Rs. 2500 per day in the recalibrated ATMs, other ATMs will continue to dispense Rs. 50 and Rs. 100 notes until they are recalibrated

- The weekly limit of Rs. 20,000 for withdrawal from bank accounts has been increased to Rs. 24,000. The limit of Rs. 10,000 per day has been removed

- Payments at toll-plazas and National Highways removed temporarily

- Payments towards utility bills restricted to individuals/households for arrears and current bills

ATMs will dispense higher denomination bank notes starting from Monday or Tuesday.

First Published: November 14, 2016, 1:39 PM IST
Read full article
Next Story
facebook Twitter google skype whatsapp

Live TV