‘Farmers can purchase seeds with banned Rs. 500 notes’

In order to further support farmers for the current Rabi crop, the Government has decided to allow farmers to purchase seeds with the old high denomination bank notes of Rs.500 from the Centres, Units or Outlets belonging to the Central or State Governments, Public Sector Undertakings, National or State Seeds Corporations, Central or State Agricultural Universities and the Indian Council of Agricultural Research (ICAR), on production of proof of identity, the finance ministry said on Monday.

“The Government is committed to ensure that the farmers are suitably facilitated during the Rabi season,” the finance ministry said in a statement.

This is in addition to the decision taken earlier to make cash available with 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.

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Printable version | Oct 22, 2020 9:28:14 PM |

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