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EC requests RBI to allow higher withdrawals for poll candidates

-The Times of India

NEW DELHI: In a relief to candidates contesting the upcoming assembly polls, the EC on Wednesday requested RBI to hike the weekly limit for withdrawals from their poll expenditure accounts to Rs 2 lakh from Rs 24,000 imposed for all in view of the demonetisation.

Stating that it had been apprised about the problems being faced by candidates due to imposition of limits on withdrawal of cash from banks, the EC conceded that given that the entire election process lasts only 3-4 weeks, the total amount that can be withdrawn with the weekly restriction limit of Rs 24,000 would be only Rs 96,000, as against the statutory limit of expenditure of Rs 28 lakh for Punjab, Uttarakhand and UP and Rs 20 lakh for Manipur and Goa.

A candidate must open a separate and designated bank account for his poll expenses, from which all his receipts and payments must be routed during polls.    

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