Adding to the misery of common people, Economic Affairs Minister Shaktikanta Das, while addressing the media, announced on Thursday that the limit of Rs. 4,500 for exchange of old Rs. 500 and Rs. 1,000 notes will be reduced to Rs. 2,000 from Friday. He also said that families can withdraw up to Rs. 2, 50,000 cash for weddings.
“To enable larger number of people to get benefit of over-the-counter exchange of Rs 500 and Rs 1,000 notes, the existing limit of Rs 4,500 will be reduced to Rs 2,000 with effect from tomorrow,” Economic Affairs Secretary Shaktikanta Das told reporters.
The over-the-counter exchange of Rs. 500/1,000 in return of new currency will be available “once per person till December 30“.
“This will enable larger number of people to exchange notes. There is no cash shortage and enough cash is available,” he said.
The decision comes a day after the government directed banks to put indelible ink mark on the right index finger of persons to screen them from using the exchange facility more than once.
