Demonetisation: 10 key decisions to help people

The existing exemptions for acceptance of old Rs 500 and Rs 1000 notes for certain types of transactions has been extended beyond November 14, to November 24.

The cash holding limit of banking correspondents (BCs), representatives authorised by banks to deliver banking facilities at people's doorsteps, has been increased to Rs 50,000 each.

BCs provide services where a lender doesn't have a branch, especially in rural areas; the system was started by the Reserve Bank of India through a regulation in 2006. Banks will replenish the cash with BCs multiple times in a day as per requirement.

The supply of cash to branch post offices has been enhanced to facilitate cash withdrawals from postal accounts.

Micro ATMs will be deployed to dispense cash against debit/credit cards up to the cash limits applicable for ATMs. The handheld Micro ATMs have the facility of mobility and deployment at the required places.

The weekly withdrawal limit of Rs 20,000 has been enhanced to Rs 24,000. The withdrawal limit of Rs 10,000 per day has been removed.

The limit of Rs 4,000 for over the counter exchange has been increased to Rs 4,500.

Cash limit of ATMs enhanced to Rs 2500 from Rs 2000. ATMs are being progressively recalibrated so that more and more can be brought into this enhanced limit.

Business entities having current accounts which are operational for last three months or more will be allowed to draw Rs 50,000 per week.

All central government departments and public sector enterprises instructed to use e-payments to the maximum extent possible. Banks advised to waive transaction charges till December 31.

Time limit for submitting annual life certificate for pensioners extended to January 15, 2017.