Trouble mounts for people with weddings, RBI levies fresh conditions for withdrawing Rs 2.5 L

New Delhi: Even fourteen days after Prime Minister Narendra Modi’s demonetisation of Rs 500 and Rs 1000 notes, the queues outside ATMs, and banks don’t seem to end. In fact, the major sufferers are the one’e who have weddings in their families but don’t have money to pay. The Reserve Bank on Monday came out with a new set of rules for people who are getting married any time soon or whose family members are getting married.

• People who have a wedding in their families can draw upto Rs 2.5 lakh provided that the money has been deposited in the account before November 8, 2016. Also, the money can be withdrawn only if the wedding falls before December 30
• The money can be withdrawn only by the bride, groom or their parents
• The bride’s and groom’s families can withdraw up to Rs 2.5 lakh each
• It should be established that the people on whose behalf the money is being withdrawn, they don’t have a bank account
• As a proof, the wedding invitation card and  the expenditure slips of advance payments will have to be shown in the bank
• Along with the invitation card, complete details about the bride and groom need to be provided with

To make it simpler, if you had saved some money for a wedding in your family, and deposited the amount in your bank post the declaration of demonetisation; you won’t be able to withdraw that amount for the wedding. Also, you would have to seek receipts from the floweriest, caterer, the decorator and wedding planner saying that they “don’t have a bank account”.