-Hindustan Times Withdrawals from ATMs in March this year stood at 2,259 billion — 0.6% more than what people withdrew in the same month last year. Cash transactions are back in vogue despite the government’s push for a less-cash economy post-demonetisation, Reserve Bank of India (RBI) data on ATM cash Withdrawals indicate. Withdrawals from ATMs in March this year stood at 2,259 billion — 0.6% more than what people withdrew in the same...
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Rs 2 lakh limit not applicable on bank Withdrawals
-PTI NEW DELHI: Ban on cash transaction in excess of Rs 2 lakh will not be applicable to Withdrawals from banks and post office savings accounts, the income tax department said on Wednesday. Through the Finance Act 2017, the government has banned cash transactions of over Rs 2 lakh and said a penalty of an equal amount would be levied on the receiver. In a clarification on the newly inserted Section 269ST in...
More »Poll pile punctures DeMo pride
-The Telegraph New Delhi: Cash seizures from the five states that voted in February-March were more than three times the amount seized during the 2012 elections in these states, despite the post-demonetisation limits on cash Withdrawals. The rise of the seizures from Rs 50.78 crore in 2012 to Rs 184.85 crore challenges the government's claim that the note recall would cleanse India of the "cancer of corruption". Liquor, drugs and precious metals too...
More »EC renews plea to RBI for higher cash Withdrawals
-The Hindu EC expresses "serious concern about the cursory manner in which the issue has been dealt with" The Reserve Bank of India (RBI) has turned down the Election Commission’s request to enhance the cash withdrawal limit for nominated candidates in the five poll-bound States, from Rs. 24,000 to Rs. 2 lakh per week, till the declaration of results on March 11. Asking the RBI to reconsider, the EC on Saturday again wrote...
More »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...
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