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Demonetization: Farmers can withdraw Rs 25000 per week

Government announces a slew of new measures for farmers, amid cash crunch.

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To ensure sowing in rabi season continues uninterrupted, the government, on Thursday, allowed farmers to withdraw Rs 25,000 a week against their crop loan or Kissan Credit Card, even as people continue to queue outside banks and ATMs in large numbers to withdraw money and exchange old Rs 500 and Rs 1,000 notes.

Addressing the media, Economic Affairs Secretary Shaktikanta Das said, "Government has decided that time limit in crop insurance premium cases will be extended by 15 days.

He also said that, "Traders registered with APMC markets will be permitted to draw Rs 50,000 per week; accounts need to be KYC compliant."

Das also said that the government has decided that farmers can withdraw Rs 25,000 per week from a/c where farmers receive money either by cheque or which is credited by RTGS account. 

Also read: Daily cash exchange limit cut to Rs 2,000; Now withdraw Rs 2.5 lakh for weddings

In a slew of measures announced on Thursday, the government decided to cut the daily exchange limit at banks to Rs 2,000 from Rs 4,500 effective November 18 and allowed Rs 2.5 lakh withdrawal from one bank account for families that have an upcoming wedding.

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