Taking stock of the chaos in the country due to the government’s demonetisation move Finance Minister Arun Jaitley on Thursday said that 22,500 ATMs will be re-calibrated on Thursday. The finance minister also said that the government has no plans of reintroducing Rs 1,000 notes into the market as of now.
Addressing the media on Thursday, Jaitley said that the lines outside the ATMs are getting shorter and the situation of over-crowding is gradually normalising.
The Centre has already asked all states to ensure proper security in all banks, ATMs and vehicles transporting cash in the wake of demonetisation of Rs 500 and Rs 1000 notes.
Amid rising anger among people across India over exchanging the scrapped currency, the government has acknowledged the hardships caused due to withdrawal of high denomination notes but advised the public to be patient as the move will have larger benefits for the economy in long term.
Meanwhile, addressing a press conference in New Delhi on Thursday, Economic Affairs Secretary Shaktikanta Das said that with effect from Friday, exchange limit will be reduced to Rs 2,000 from earlier limit of Rs 4,500.
“Over the counter exchange of old Rs 500 and Rs 1000 notes, w.e.f 18th November, the existing limit of Rs. 4500 will be reduced to Rs 2000,” Das added.
For wedding ceremonies, upto Rs 2.5 lakh can be withdrawn from the bank account which are KYC compliant, he said.
“One member of the family, be it father or mother can withdraw upto Rs 2.5 lakhs for a wedding,” Das.
Maintaining that there is enough cash with the government, he further said that central government employees up to group C can draw salary advance up to Rs 10,000 in cash that will be adjusted against their November salaries.