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PM reviews demonetisation exercise

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Prime Minister Narendra Modi today reviewed the status of the demonetization exercise at a meeting with top officials of the government.

Officials of the PMO and the Finance Ministry were present at the meeting where the stock was taken about the availability of cash in banks and ATMs and other measures taken to ease the difficulties of the people, sources said.

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Earlier in the day, the government announced a number of new measures to ease difficulties of the people, which included relaxing of restrictions on cash withdrawals by farmers and families with upcoming weddings.

Now families preparing for a wedding can withdraw up to Rs 2.50 lakh from bank account giving PAN details and self-declaration.

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Besides, farmers who have taken crop loan or have kisan credit card can withdraw Rs 25,000 per week. Also, those who have got payments through RTGS or cheque deposit in KYC compliant bank account can withdraw an additional Rs 25,000 a week. This takes the total cash withdrawal limit for farmers from KYC compliant bank accounts to Rs 50,000 per week.

The Prime Minister had on November 8 announced the scrapping of Rs 500 and 1000 notes.

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