-The Hindu With the cash crunch situation easing, Reserve Bank of India may do away with the weekly withdrawal LIMits from banks as well as ATMs by the end of next month, bankers said. The RBI had recently raised the ATM withdrawal LIMit to Rs. 10,000 a day but maintained the weekly cap at Rs. 24,000 for savings account and Rs. 1 lakh for current account holders. “I think the restrictions on withdrawal...
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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...
More »Gujarat announces sops to potato, tomato farmers
-The Hindu Business Line Incentivises exports by offering up to 25 per cent of the overall transport cost Ahmedabad: Facing assembly elections later this year, the Gujarat government on Monday announced financial assistance to the farmers growing potato and tomato in the form of transport assistance for exports. The move is seen as a step directed to please a large section of potato and tomato growing farmers. Announcing the decision, the deputy chief...
More »Banarasi sari industry in trouble as traditional credit vanishes after note ban -Omar Rashid
-The Hindu The ‘batta’ system of rolling financing has shrunk as money cannot be withdrawn from banks, and bearer cheques pile up Varanasi: For the already distressed weavers and poorly paid labourers in the famous Banarasi sari industry, demonetisation has come as a crippling blow. Withdrawal LIMits of Rs. 50,000 on current accounts (around a 10th of the actual requirement in the trade) and falling business post November 8 have constrained traders from...
More »Set up body to look into complaints against channels: Supreme Court -Dhananjay Mahapatra
-The Times of India NEW DELHI: Given the rapid proliferation of TV channels, the Supreme Court suggested on Thursday that the Union government set up a statutory mechanism to decide people's grievances against programmes broadcast on the visual medium. A bench of Chief Justice J S Khehar and Justice D Y Chandrachud said, "We are of the view that the competent authority, having framed the rules under the Cable TV Network (Regulation)...
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