Government Extends the limits of deposit, withdrawals and exchange

Prime Minister Narendra Modi held a meeting with senior ministers past midnight on Monday to review demonetization and its impact.

A Meeting was scheduled in the Prime Minister’s residence that was attended by Home Minister Rajnath Singh, Finance Minister Arun Jaitley, I&B Minister Venkaiah Naidu, Power, Coal and Mines Minister Piyush Goyal and top officials of the Finance ministry.

The meeting came amid continuing chaos and growing public anger across the country over limited cash availability following the surprise demonetization of two higher value currency notes by Modi.

There was little respite for cash-starved people queuing up outside banks and ATMs on Sunday, with branches witnessing unprecedented rush since early morning and leading to arguments and scuffles.

The limit of depositing and exchanging of money has been shifted from 4000 rupees to 4500 rupees per day. Withdrawal limit of cash from ATM is extended to 2400 from 2000 rupees. Also, the weekly limit of Rs 20,000 for withdrawal from bank counters has been increased to Rs 24,000.

Mess in the rows of exchange following Demonetization of notes


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