Cash withdrawals from Jan Dhan accounts capped at ₹10,000 a month, says RBI
New Delhi: After demonetising Rs 500 and Rs 1,000 notes, the government is considering depositing Rs 10,000 in the Jan Dhan accounts, particularly those with zero balance. This grand, populist gesture of turning a political jumla into a tangible benefit for people, could be carried out before the crucial elections in UP, Punjab and Goa.
Jan Dhan deposits will prove to be game changer
This step, if taken, could be a game-changer and impact Assembly elections expected to be held by April next year.
Reports pouring in from Uttar Pradesh, Punjab and other states indicate that as a consequence of demonetisation, farmers have no cash to buy manure or seeds ahead of the cropping season. The Punjab agricultural market has registered a downward trend in Ludhiana.
The saffron high command feels that if the government loses UP polls, the Prime Minister’s image and credibility could be “permanently damage”.