Exporters meet Sitharaman, seek 10-fold hike in withdrawal limit
Aamir H Kaki In order to cope with the cash crunch, exporters from various industries on Monday asked the Commerce and Industries Minister Nirmala Sitharaman to make a 10-fold hike in the weekly cash withdrawal limit of Rs.50,000 to be able to carry out certain business transactions, after the demonetisation of the old 500 and 1000 rupee notes. After her meeting with several export promotion councils, Commerce and Industry Minister Nirmala Sitharaman said, “The work in labour-intensive industries such as handloom and carpet, is dependent mainly on cash. Their demand is to raise the current limit of weekly withdrawal to Rs.3-4 lakh or even Rs.5 lakh.” On the given isssue, Raghunath Singh Rana, Chairman, Sports Goods Promotion Council (SGEPC), told The Dollar Business, ...
