With the limit in cash exchange , now PAN mandatory to create new accounts!


    Now with the existing move of demonetisation , it is now mandatory to have a PAN card to open a new bank account and continue with the exchange or deposition of the old currency notes.

     Only those newly created bank accounts that fall under the Jan Dhan Yojana , do not need any PAN Card for timely deposits in Banks , Psot Offices and Co- Operative Banks and other than that , it is compulsory to have a PAN Card , as it is the requirement stated by the Central Government and this will be in effect from today.

    Though the Centre has eased the side effects of this ill initiative , that it has facilitate cash flows to the farmers and families of couples who are about to get married. So a farmer can avail upto Rs 25000 per week and the families of bride and groom can avail Rs 2.5 Lakhs for the wedding preparations.

    Not to forget , the exchange limit is back to its old form from Rs 4,500 to Rs 2,000 which was set yesterday . As part of the demonetisation policy , all the ATMs are now re – caliberated as well as the other low value denomination notes are also going to get a makeover soon.

    The Finance Ministry , has allowed traders who are registered with Agricultural Produce Markets (APM) to withdraw upto Rs 50000 so that they must not face any difficult situation during this Rabi Season.

    In addition to this , the Central Government has also extended help to all the support staff in Clerical and Administrative roles and all the people engaged in Defence and Para- Military Forces , Public Sector and Railways.