Union government shocks people
Facing unprecedented hardships post note ban, people were expecting relief after December 30th with lifting cash withdrawal limit but here comes a shocker. Banks have sent a request to finance ministry to continue the cap on withdrawal even after the before said 30th and suggested to lift the sanctions only after new notes are available freely to the banks.
Yet to take a decision on this, the union government is scratching its head on this matter. Reserve bank officials feel if the sanctions are lifted without the availability of adequate cash, people may face further difficulties, especially the common man.
But according to the reliable sources, the present cap on ATM and week limit from banks will be raised from 2500 and 24000 to 4000 and 40000 respectively. Central government is taking one step at a time to relieve the situation that already pushed the financial situation into a conundrum.