Categories: India

Note Ban: Government Announced That Farmers Can Buy Seeds With Old Currency!

The poor implementation of the demonetization has triggered chaos across the country and farmers and small business holders are the one’s who are suffering the most. The note ban came across as a shock for everyone two weeks ago but the government has added new rules to facilitate farmers and small traders.

image source: indianexpress.com

Today morning, the government has announced that farmers are allowed to purchase seeds with the old Rs 500 notes from the centres, outlets or units belonging to the central or state governments, central or state agricultural universities, national or state seeds corporations, Indian Council of Agricultural Research and public sector undertakings.

Earlier, the government relaxed the norms for farmers allowing to draw up to Rs 25,000 a week. The Reserve Bank of India eased cash withdrawal norms for small businesses as well, RBI said that they can withdraw 50,000 in cash every week from their cash-credit accounts which are operational for last 3 or more months and overdraft. The facility was earlier available only for current accounts of traders.

image source: hindustantimes.com

RBI also said that this facility will not be allowed for personal overdraft accounts.

The government has added new rules to ease the hardships of demonetization on farmers, traders and poor.

Follow us on Facebook, Twitter and Instagram for more updates. Don’t forget to like and share. Do tell us your views in the comment box below.

21 November 2016
Avni S. Singh

Facebook Comments
Avni S. Singh

Share
Published by
Avni S. Singh

Recent Posts

When Just A Name is Enough: RATAN TATA

RATAN NAVAL TATA, a name that evokes humanity, empathy, kindness, genuineness, simplicity, intelligence, and integrity…

3 weeks ago

A Step-by-Step Guide: How To Fill Income Tax Returns Online in India

Filing income tax returns is an essential part of every individual's financial planning. In India,…

2 months ago

Jay-Z Net Worth Unveiled: The Story Behind the Iconic Rapper’s Fortune

He's a rap icon, a music mogul, and a successful entrepreneur – he's Jay-Z. With…

2 months ago

How To Clean Carpet at Home : Step by Step Guide

Carpеts arе an еssеntial part of many homеs. Thеy add warmth and cosinеss to a…

2 months ago

How to Fix a Leaky Faucet : Step by Step

A lеaky faucеt can bе frustrating, wastеful, and еxpеnsivе ovеr timе. Fortunatеly, fix a leaky…

2 months ago

Jim C. Walton Net Worth: Exploring the Wealth of the Walmart Heir

Jim C. Walton, the youngest son of Walmart founder Sam Walton, is one of the…

2 months ago