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#Demonetisation: Farmers can use old Rs 500 notes to buy seeds: Finance Ministry

LiveLaw News Network
21 Nov 2016 9:11 AM GMT
#Demonetisation: Farmers can use old Rs 500 notes to buy seeds: Finance Ministry
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The Government has decided to allow farmers to purchase seeds with the old high denomination bank notes of Rs.500 from the Centres, Units or Outlets belonging to the Central or State Governments, Public Sector Undertakings, National or State Seeds Corporations, Central or State Agricultural Universities and the Indian Council of Agricultural Research (ICAR), on production of proof of identity.

The Ministry of Finance in a press release stated that this is in addition to the decision taken earlier for making cash available with the farmers by permitting them to draw up to Rs.25,000 per week from their KYC compliant accounts subject to the normal loan limits and conditions apart from the other facilities announced on 17.11.2016.

This article has been made possible because of financial support from Independent and Public-Spirited Media Foundation.

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