Demonetisation: The government of India has today announced that the farmers in the country will be allowed to purchase the seeds with old Rs 500 notes, which have been scrapped by the Reserve Bank of India earlier this month. The farmers will now be able to buy seeds from the outlets of the Union or the state government, National or State Seeds Corporation, Central or State Agricultural Universities, Indian Council of Agricultural Research or other Public Sector Units (PSU).
Demonetisation – Farmers are now allowed to buy seeds with the old denomination notes
This decision has been taken by the government in order to help poor farmers who have been earlier facing difficulty in the purchase of seeds owing to lack of new notes. The farmers will have to show an identity proof to obtain the seeds with old currency.
As per the issued order – “This is in addition to the decision taken earlier for making cash available to 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 November 2016…the government is committed to ensuring that the farmers are suitably facilitated during the Rabi season.”
Also, the threshold limit for withdrawal of money per week from current account, the overdraft account, and cash credit account has been increased to Rs 50000.