Sunday 29 January 2017

EC (election commission) approach to RBI , asking to increase limit of cash withdrawal for pole candidates


Surely , you all must are aware of the up and down fighting going on in India after Narendra Modi's demonitisation scheme. According to this rule , Indian currencies of rs. 500 and rs.1000 is replaced by new currency of rs500 and rs.2000. Due to this rule , stability of earning employees become unstable causing an impatient action in the public.

On 8 November , the government of India claimed that the action will create unconsciousness to many people but , this rule will unshadow the hidden economy of India.

To withdraw cash , public become hyper and led to uncertainable lines at ATMs , bank , and other medium of withdrawing cash.

To control all this , government of India introduced some limitations to withdraw cash i.e. A person previously can withdraw 2,500 INR per day per person  , later from 1 January it increase to 4,500 INR per day per person but recently it increase to 10,000 INR per day per person however , a person can withdraw 24,000 INR in a week from bank onwards.

With respect to elections , the election commission recently approaches The Reserve Bank of India (RBI) asking to increase the limit of cash withdrawal for the pole candidates.

Dilip Sharma , director general (election expenditure) recently wrote a letter to Urijit Patel - the governor of RBI mentioning that " it is constitutional mandate for the ECI (election commission of India) to conduct free and fair elections and provide a level election to all the candidates. In order to do that , the orders of RBI are complied".

Dilip Sharma also wrote that "the RBI still hasn't understand the gravity of matter".


The above image is the letter that Dilip Sharma wrote to the governor of RBI - Urijit Patel considering the needs of candidates and election commission approach.

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