India to allow farmers to purchase seeds with old high denomination bank notes of Rs.500

NEW DELHI (INDIA): In order to further support farmers for the current Rabi crop, the Government of India 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.nnThis is in addition to the decision taken earlier for making 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 apart from the other facilities announced on 17.11.2016.nnThe Government is committed to ensure that the farmers are suitably facilitated during the Rabi season.