Demonetisation: How Modi government is addressing the cash crunch

The government has this week shifted focus to providing cash to rural India & encouraging digital spend in urban centres. Economic Times takes a look at the measures.

RURAL PUSH
Cash being provided to rural bank branches & 1.55 L post offices

Banking correspondents can withdraw & dispense Rs 50,000 at one go

Micro-ATMs being installed


PROTECTING RABI CROP
Nabard to provide Rs 21,000 crore to District Central Cooperative Banks

These banks will disburse crop loans

RBI and banks asked to make cash available to DCCBs under limit sanctioned

RELAXATION FOR SMALL BORROWERS
Relief for small borrowers with loans up to Rs 1 cr Additional 60 days for repayment of dues

ENCOURAGING CASHLESS PAYMENTS
All transaction charges waived on debit cards till Dec 31

Monthly e-wallet limit for likes of Paytm raised to Rs 20,000

Service charge on online train bookings waived till Dec 31

Levy on mobile banking and payments waived till Dec 31

All govt bodies to make digital payments

RECALIBRATION OF ATMS
Over 1 lakh of 2.2 lakh ATMs recalibrated to dispense new Rs 2000 & Rs 500 notes

POINT OF SALE CASH
258 Big Bazaar stores to dispense cash against card

Withdrawal subject to the regular restrictions

NEW CURBS
RBI has said no cash can be deposited in small savings schemes; however, small savings accounts can accept deposits