Demonetisation: Farmers can draw Rs 25,000 per week against crop loan, kissan credit card

Coming to the rescue of the farmers who are facing huge cash crunch following PM Modi`s decision to demonetise the high value currency notes, Finance Ministry on Thursday said that they can draw upto Rs 25,000 a week.

Zee Media Bureau

New Delhi: Coming to the rescue of the farmers who are facing huge cash crunch following PM Narendra Modi's decision to demonetise the high value currency notes, Finance Ministry on Thursday said that they can draw upto Rs 25,000 per week.

“Government has decided to permit farmers to draw upto Rs 25,000 per week against crop loans sanctioned and credited to their accounts,” Economic Affairs Secretary Shaktikanta Das, addressing a press conference in the national capital said.

Government has decided that time limit in crop insurance premium cases will be extended by 15 days.

Farmers can withdraw Rs 25,000 per week from account where farmers receive either by cheque or which is credited by RTGS accounts.

Kisan Credit Cards will be subject to same new limit, he added.

Here are the key highlights of today's announcement:

Stating that PM Modi is constantly being briefed by the Finance Ministry on the ground level scenario, Economic Affairs Secretary Shaktikanta Das said that APMC-registered traders can draw Rs 50,000 per week.