RBI rejects EC’s plea for raising cash-withdrawal limit

It reminded the central bank that as per law, candidates contesting Assembly polls in Uttar Pradesh, Uttarakhand and Punjab can spend Rs 28 lakh each for electioneering.

The limit in Goa and Manipur is Rs 20 lakh each. The poll panel said despite paying amounts through cheques, candidates still need hard cash for petty expenses. Also the issue is further adversely effected in rural areas where banking facilities are negligible.

From Agencies, Featured image courtesy livemint