Dimapur, November 17 (MExN): The State Bank of India (SBI) in Dimapur is setting up Cash@POS terminals or a micro ATMs at different locations where people can withdraw Rs.1000 through their ATM/Debit card and the cash is made available in lower denominations of Rs.100/ Rs. 50/ Rs. 20/ Rs. 10.
Cash@POS is already functional in the Supermarket area and on Thursday such outlets were set up in the Dimapur Railway Station and Dimapur Civil Hospital. On Friday, the micro ATM will also be available at Zion Hospital, ICAR and Referral Hospital.
PAN made mandatory for some bank transactions
New Delhi, November 17 (IANS): The Income Tax department on Thursday made the Permanent Account Number (PAN) mandatory for a string of bank transactions, including cash deposits of Rs 2.5 lakh or more, till December 30. In a notification, the department has made it mandatory that PAN be mentioned for :
• Cash deposit in any bank above Rs 50,000 during any one day.
• Cash deposits of Rs 250,000 or more up to December 30, 2016.
• Time deposit in any scheduled or cooperative bank or post office.
• Purchase of demand drafts or pay orders or banker’s cheques in cash for above Rs 50,000 on any single day.
• Opening an account other than a time-deposit or a Jan Dhan/basic bank deposit account.
Cash withdrawal norms eased for farmers, agri-traders & weddings
• Farmers entitled to withdraw 25,000 per week
• Registered agri-traders 50,000 per week
• Families having upcoming wedding can withdraw up to 250,000 one-time
• Exchange limit lowered to 2,000 from 4,500
New Delhi, November 17 (IANS): The government on Thursday announced a set of seven decisions pertaining to demonetisation, mainly aimed at smooth sowing season ahead, including permission to farmers to withdraw up to Rs 25,000 per week and registered agri-traders Rs 50,00 per week from their bank accounts.
This apart, for families that have an upcoming wedding, one member of the household can withdraw up to Rs 250,000 one-time, subject to furnishing an undertaking that no other individual will be availing such a concession for the purpose and also upon giving the PAN card details.
However, the amount of money that an individual can exchange from banks by handing over the old Rs 500 and Rs 1,000 notes has been lowered to Rs 2,000 from Rs 4,500 with effect from Friday. The use of indelible ink for such withdrawals will continue.
Similarly, agri-traders registered with such marketing committees, can withdraw up to Rs 50,000 per week from their designated bank accounts.
Two other decisions taken on Thursday are: A 15-day extension in the payment of crop insurance by farmers and an allowance for withdrawing Rs 10,000 as advance for central government employees up to Group ‘C’ to be adjusted against their November salary.
This will also apply to employees of Indian Railways, defence and state-run units.
