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Regular-article-logo Sunday, 18 May 2025

Withdrawal limit hike: Rs 2.5 lakh; relief: priceless

Centre's announcement of exemption for families with weddings coming up sparks cheer

Amit Bhelari Published 18.11.16, 12:00 AM
Gulshan Arora (centre), seated with her mother and sister, shows the wedding card on Thursday. Picture by Sachin

Gulshan Arora, who will get married on November 26, is happy after the Centre announced on Thursday that families that have weddings coming up can withdraw Rs 2.5 lakh.

One member of such a family can withdraw up to Rs 250,000 one-time after furnishing an undertaking that no other individual from the family will be availing such a concession for the same purpose. The family member will also have to give PAN card details.

While most such families said the amount is still not enough for the Great Indian Wedding, they admitted the decision had brought relief.

"A wedding cannot take place with just Rs 2.5 lakh but yes, the new move is praiseworthy and it will surely bring relief to a certain extent; we require cash for so many things during a wedding," said Gulshan, a resident of Dakbungalow roundabout.

She said her father Mahendra Kumar Arora, a businessman, had gone into a state of shock when Prime Minister Narendra Modi had announced demonetisation.

"When the Centre announced that Rs 500 and Rs 1,000 notes will no longer be legal tender, my father was very tense over how to carry out the wedding, which will happen in Lucknow. Thank god, finally the government realised the pain of families were weddings are due."

Most such families were facing difficulties in making payments to musical bands, tent owners, for crockery, decoration and food.

"For me it is a big relief as most of the work was pending," said Gopalganj resident Awadhesh Kumar Rajan, whose sister Sashi Kumari will get married on November 21. "I was unable to pay several people who are making arrangements for the wedding. The Centre should have given this facility in the beginning itself or should have announced the demonetisation during Kharmas (inauspicious time for wedding)."

Geeta Devi, 55, who was earlier livid over the demonetisation move, welcomed the Centre's Thursday announcement.

"I had deposited Rs 1 lakh which was in Rs 500 and Rs 1,000 notes in the bank and was struggling to withdraw the money," said Geeta, a resident of West Lohanipur in Patna whose son Ravi Pratap Singh will get married on November 28. "I had only withdrawn Rs 24,000. Now I can withdraw the rest of the amount. It is a big relief and I thank the government for taking such families into consideration."

Bank officials said the wedding withdrawal exemption would come into effect after they receive the circular or order from the top management.

"We have not received the circular yet and are expecting it by this (Thursday) evening so from tomorrow it would come into effect and families where weddings are scheduled will be able to withdraw the amount," said Raghvendra Kumar, chief manager of the SBI's main branch in Patna at Gandhi Maidan.

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