Amendment of Notification number S.O. 3408(E) dated 8th November, 2016 of the Government of India specifying the limits for cash withdrawal- (Ministry of Finance ) (17 Nov 2016)

MANU/EAFF/0178/2016

Banking

In exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby further amends the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs number S.O. 3408(E) dated the 8th November, 2016 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 8th November, 2016, namely:-

1. In the said notification, in paragraph 1, after clause (q), the following clauses shall be inserted, namely :-

"(r) the limits for cash withdrawal by farmers from their loan and other accounts shall be such, as may be specified by the Reserve Bank of India; (s) for wedding expenses a maximum of Rs. 2,50,000/- may be withdrawn in cash from the bank accounts, subject to such conditions as may be specified by the Reserve Bank of India.".

Tags : WITHDRAWAL LIMITS AMENDMENT