The Reserve Bank of India (RBI) eased cash withdrawal limits for farmers. RBI came out with certain modifications that have been brought in the limits for withdrawal from bank accounts.
Farmers who have taken crop loan or have kisan credit card can withdraw up to Rs 25,000 per week. Farmers those who have got payments through RTGS or cheque deposit in KYC compliant bank account can withdraw an additional Rs 25,000 a week.
At present, all current account holders are allowed to withdraw, in cash, Rs 50,000 in a week from their current account subject to certain terms and conditions and the same is being now extended to the traders registered with APMC markets and mandis.
Such traders will be permitted to draw up to Rs 50,000 from their current accounts provided that such accounts are compliant with the extant KYC norms and are operational for the last three months or more.