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political funding: now, political parties can accept only rs 2,000 in cash | ind


new delhi: the government on wednesday took an important step to bring about transparency in political funding+ and announced a drastic 90 per cent cut in the limit for cash donations. presenting the union budget 2017+ , finance minister arun jaitley said that political parties can now receive only rs 2000 as donation in cash from one source. for any donation above rs 2,000, parties will have to disclose the identity of the donor, arun jaitley said. this is a sharp drop from the rs 20,000 limit that the political parties were so far allowed to receive as anonymous cash donations. political parties can receive donations in cheque, electronic mode; electoral bonds to be issued by the rbi. jaitley said the government has accepted the election commission's recommendation to bring in transpare






no party can accept cash donation more than rs 2000/source


the finance minister arun jaitley on february 1 presented the union budget 2017 and announced that the maximum donation that a party can accept as a cash donation is rs 2000. he added that political parties will be entitled to receive donations by cheque or in the digital mode from their donors.the finance minister announced this decision after observing that political parties continue to receive most funds through anonymous donations.it is for the first time in the history of india, both the union budget and the rail budget have been merged with the general budget. there will be no separate rail budget, this time! this decision to present the budget together was taken with the aim to complete the whole process before the end of this financial year.you may also likejaitley erted that servi






no party can accept cash donation more than rs 2000/source


in a welcome move, the finance minister arun jaitley on february 1 presented the union budget 2017 and announced that the maximum donation that a party can accept as a cash donation is rs 2000. he added that political parties will be entitled to receive donations by cheque or in the digital mode from their donors.the finance minister announced this decision after observing that political parties continue to receive most funds through anonymous donations.it is for the first time in the history of india, both the union budget and the rail budget have been merged with the general budget. there will be no separate rail budget, this time! this decision to present the budget together was taken with the aim to complete the whole process before the end of this financial year.you may also likejaitl






union budget 2017: govt bans cash transactions above 3 lakhs


in the union budget 2017 speech, the finance minister arun jaitley announced that the cash transactions above 3 lakh rupees will not be allowed. government announced this measures to curb corruption and black money in the economy.jaitley also said that india is mainly a tax non-compliant economy and it puts pressure on tax payers.“nayi duniya hai, naya daur hai, nayi hai umang, kuchh thay pehle ke tareeke, to kuchh hai aaj ke rang dhang. roshni aake andheron se jo takraai hai, kaale dhan ko bhi badalna pada aaj apna rang, arun jaitley added.”you may also likeearlier while cracking down on funding of political parties, the finance minister arun jaitley erted that the maximum donation that a party can accept as a cash donation is rs 2000. he added that political parties will be entitled to r






bronx woman busted for stealing cash from church donation box


cops busted a 30-year-old woman for stealing cash from a donation box at a bronx church, police said thursday. christa polito of the east bronx was arrested on wednesday, nearly a month after she walked into st. benedict's roman catholic church in throggs neck and swiped cash from a donation box, cops said. security footage from the church caught polito as she pried open a locked donation box and made off with an undisclosed amount of cash around 4:30 p.m. jan. 12. the sacrilegious crime was committed under a framed p o of mother teresa, and next to a statue of the virgin mary.woman caught on video robbing donation box in bronx church authorities charged polito with petit larceny.send a letter to the editorjoin the conver ion:facebooktweet






bronx woman busted for stealing cash from church donation box


cops busted a 30-year-old woman for stealing cash from a donation box at a bronx church, police said thursday. christa polito of the east bronx was arrested on wednesday, nearly a month after she walked into st. benedict's roman catholic church in throggs neck and swiped cash from a donation box, cops said. security footage from the church caught polito as she pried open a locked donation box and made off with an undisclosed amount of cash around 4:30 p.m. jan. 12. the sacrilegious crime was committed under a framed p o of mother teresa, and next to a statue of the virgin mary.woman caught on video robbing donation box in bronx church authorities charged polito with petit larceny.tags:throggs necksend a letter to the editorjoin the conver ion:facebooktweet






pm modi congratulates fm arun jaitley on presenting 'uttam' budget


soon after finance minister arun jaitley presented the union budget 2017, prime minister narendra modi on february 1 congratulated the fm for presenting a “uttam” budget.the fm has presented an ‘uttam’ budget, devoted to strengthening the hands of the poorthe merger of the railway budget with the general budget will give an impetus to the transport sector’s growththe aim of the government is to double the income of farmersthis budget is yet again devoted to the well-being of the villages, farmers and the poorspecial emphasis has been given on women empowerment in the budgetthe housing sector stands to gain immensely from the budgetthe commitment to eliminate corruption and black money is reflected in the budgetthis budget will help small businesses to become competitive in the global marke






arun jaitley allots rs 2.74 lakh crore for defence


finance minister arun jaitley on february 1 presented the union budget 2017 and announced that the government has set rs 2.74 lakh crore as a budget for the defence. in the budget 2016, the government had allocated rs 2.58 lakh crore for the defence. jaitley added that this expenditure is excluding the pension.it must be noted that in terms of defence spendings, india ranks 4th in the world. the finance minister, however, did not give a detailed break up of the military spending in his speech. the budget for the defence was much-awaited after a number of jawans recently posted several videos online highlighting the problems they have to undergo at the border and the lack of facilities provided to them.railways got a specific mention in the budget 2017 with the government allocating rs 5500






minor hike for defence, gets about rs 15 lakh more than last year


finance minister arun jaitley on february 1 presented the union budget 2017 and announced that the government has set rs 2.74 lakh crore as a budget for the defence. in the budget 2016, the government had allocated rs 2.58 lakh crore for the defence. jaitley added that this expenditure is excluding the pension.it must be noted that in terms of defence spendings, india ranks 4th in the world. the finance minister, however, did not give a detailed break up of the military spending in his speech. the budget for the defence was much-awaited after a number of jawans recently posted several videos online highlighting the problems they have to undergo at the border and the lack of facilities provided to them.railways got a specific mention in the budget 2017 with the government allocating rs 5500






tax rate reduced to 5% on income rs 2.5l-5l


new delhi: stating that india is "largely a non-tax compliant society," finance minister arun jaitley today said the government is putting a rs 3 lakh limit on cash transactions. in addition, the minister gave a significant tax break to those earning between rs 2.5-5 lakhs+ , cutting their tax rates to as low as 5 percent from the earlier 10%. the minister imposed a surcharge of 10 percent for those whose annual income is rs 50 lakh to rs 1 crore. the 15% surcharge on incomes above rs 1 crore will continue. stating that political parties continue to receive most funds through anonymous donation, jaitley announced that the maximum amount of cash donation a political party can receive is rs 2000 from any one source. the minister also said the government plans to extend the basket of financi






priest declines to press charges against donation-box thief


a merciful catholic priest declined to press charges against a woman who was caught on surveillance video pilfering from a donation box at his parish, officials said.christa polito walked into st. benedict’s church on otis avenue near logan avenue in throggs neck around 4:30 pm. on jan. 12 and used an unknown object to pry open the box and swipe an undetermined amount of cash, according to police.woman who stole from church donation box busted by cops 0:0 it was a case of divine justice. cops on wednesday... video shows polito, 30, peering up at the era and then fiddling with the box — alongside a statue of the virgin mary and an image of mother teresa.cops nabbed polito on wednesday and initially charged her with petit larceny — but that charge was dropped after the church’s forgiving pa






bronx pastor forgives woman busted for stealing cash from church


christa polito has an angel on her shoulder. cops arrested the 30-year-old woman for stealing $300 from a donation box at a bronx church, but the charges were dropped when the kindhearted pastor declined to prosecute, officials said thursday. investigators arrested polito, of the bronx, for the jan. 12 theft on wednesday. she was caught on surveillance video walking into st. benedict's roman catholic church on otis ave. in throggs neck and swiping cash from a donation box, cops said.woman caught on video robbing donation box in bronx church the crystal-clear security footage caught polito prying open a locked donation box and making off with the cash around 4:30 p.m., cops said. the sacrilegious crime occurred under a framed p o of mother teresa and next to a statue of the virgin mary. po






budget 2017 proposes to slash tax benefit on cash donations to religious entitie


budget 2017 proposes to reduce tax benefit on cash donations to rs 2000 from the current limit of rs 10,000 under section 80g of the income tax act. this appears to be aimed at plugging a loophole that many may have been exploiting by getting fake receipts of cash donations. according to section 80g of the i-t act, all donations made to specified relief funds and notified charitable institutions can be claimed as deductions from gross total income before arriving at the taxable income. currently, the limit allowed to avail the deduction under the 80g for donations made in cash is rs. 10,000. however, a receipt for this cash donation is a must to claim the tax benefit. there is no limit on the deduction that can be claimed for donations made by cheque or digital payment methods provided yo






tax benefit: budget 2017 proposes to slash tax benefit on cash donations to reli


budget 2017 proposes to reduce tax benefit on cash donations to rs 2000 from the current limit of rs 10,000 under section 80g of the income tax act. this appears to be aimed at plugging a loophole that many may have been exploiting by getting fake receipts of cash donations. according to section 80g of the i-t act, all donations made to specified relief funds and notified charitable institutions can be claimed as deductions from gross total income before arriving at the taxable income. currently, the limit allowed to avail the deduction under the 80g for donations made in cash is rs. 10,000. however, a receipt for this cash donation is a must to claim the tax benefit. there is no limit on the deduction that can be claimed for donations made by cheque or digital payment methods provided yo






saibaba temple trust’s 2016 income exceeds rs 400 crore


by: pti | shirdi | published:february 6, 2017 9:45 pmthe famous saibaba temple here received income of rs 403.75 crore in various forms, including rs 258.42 crore in donations, during the calender year 2016. sachin tambe, member of shree saibaba sansthan trust (ssst), said in 2015 the temple’s income was rs 393.72 crore.during january-december 2016, rs 258.42 crore were received through donations in cash-boxes, at donation-counters, online-donation, or by debit/credit cards, cheques or demand drafts. further, the temple received 28 kg gold jewellery worth rs 6.74 crore and 383 kg of silver ornaments valued at rs 1.10 crore in donation.the trust also earned interest of rs 128.24 crore on fixed deposit receipts with various nationalised banks. the trust has fdrs of rs 1,826 crore. devotees






jaitley just announced the biggest electoral reform ever. but what is electoral


the narendra modi government’s demoneti ion move banning rs 500 and rs 1000 notes invited praise and brickbats in equal measure. one of the sticking points that critics of demoneti ion used to target the pm’s policy was that the same parameters used to crackdown on tax evaders weren’t being used for funding of political parties. the biggest loophole in the electoral funding procedure is that parties are not obliged to reveal the donations up to rs 20,000 which helped black money to seep in political funding anonymously. however, the government seems to have taken the criticism seriously and decided to crack down on unaccounted electoral corporate funds. his big announcement is that political parties cannot accept more than rs 2000 as cash donation. the next part of the announcement, howeve






australian prime minister makes $1.3 million political donation


canberra, australia australia’s wealthy prime minister has revealed that he donated 1.75 million australian dollars (dh4.77 million; $1.3 million) to his cash-st ped party’s re-election paign last year, prompting his opponents to accuse him of buying the election victory.prime minister malcom turnbull, australia’s richest lawmaker with a fortune estimated to exceed au$200 million, had refused for months to say how much he had contributed to his liberal party-led conservative coalition s ing back into power at elections on july 2.but he confirmed the figure late wednesday, despite being legally entitled to conceal it for another year.“i’ve always been prepared to put my money where my mouth is,” turnbull told australian broadcasting corp.“i put my money into ensuring that we didn’t have a l






arun jaitley warns parties of serious consequences if they violate the latest do


new delhi: finance minister arun jaitley has warned political parties of serious consequences if they violate the latest donation rules announced in the budget. during budget speech, fm had announced that the political parties now cannot accept donations more than rs 2000 from a single anonymous source, down from earlier limit of rs 20,000. "every party will get a tax exemption...donor will get expenditure deduction if the donation is paid through cheque or digital mode," arun jaitley said during a conver ion with times now. read also: arun jaitley's post-budget interview"political parties should ask their donor to give smaller amount and through digital mode..there will be serious consequences if the conditions are violated; political parties who violate the conditions will loose exempti






political parties told to file tax return by december or lose exemption


after capping anonymous cash donations to political parties at rs 2,000, the government is amending law to make it mandatory for them to file returns on income by december every year or risk losing tax exemption status. it is also changing the law to keep the identity of the donor confidential who buys the just-introduced electoral bonds from banks to make such donations. in an interview to pti, revenue secretary hasmukh adhia said political parties as per law enjoy exemption from payment of income tax, but half of them do not file income tax returns (itr) on time. to promote transparency in political funding, the budget for 2017 seeks to amend law through the finance bill by making it mandatory for them to file returns by december end for any essment year. for example, for essment year 2






jaitley just announced the biggest electoral reform ever. but what is an elector


the central government’s demoneti ion move banning rs 500 and rs 1000 notes has invited praise and brickbats in equal measure. one of the sticking points that the critics of demoneti ion used to target the pm’s policy was that the same parameters used to crackdown on tax evaders weren’t being used for funding of political parties. the biggest loophole in the electoral funding procedure is that parties are not obliged to reveal the donations up to rs 20,000 which helped black money to seep into political funding anonymously.however, the government seems to have taken the criticism seriously and decided to crack down on unaccounted electoral corporate funds. his big announcement is that political parties cannot accept more than rs 2000 as a cash donation. the next part of the announcement, h






income tax department asks taxpayers to e-verify deposits post note ban


new delhi: as the income tax department uses big data to catch evaders, it is asking taxpayers to verify online the deposits they made in their accounts post demoneti ion and respond to queries of any mismatch. the department is using data analytics for comparison of deposits made after the november 8 decision to s high-value banknotes with information in its database to identify taxpayers whose cash transactions do not appear to be in line with the tax-paying profile. with a view to avoiding undue har ment, it has now enabled online verification of these transactions to reduce compliance cost for the taxpayers while optimising its resources. to help taxpayers, it has now brought out a user guide. the information on cash deposits is now available for online verification "in the e-filing w






tax department asks taxpayers to e-verify deposits post note ban


by: pti | new delhi | published:february 2, 2017 5:47 pmas the income tax department uses big data to catch evaders, it is asking taxpayers to verify online the deposits they made in their accounts post demoneti ion and respond to queries of any mismatch. the department is using data analytics for comparison of deposits made after the november 8 decision to s high-value banknotes with information in its database to identify taxpayers whose cash transactions do not appear to be in line with the tax-paying profile.watch what else is making news: with a view to avoiding undue har ment, it has now enabled online verification of these transactions to reduce compliance cost for the taxpayers while optimising its resources. to help taxpayers, it has now brought out a user guide. the information






bronx pastor forgives woman busted for stealing cash from church


christa polito has an angel on her shoulder. cops arrested the 30-year-old woman for stealing $300 from a donation box at a bronx church, but the charges were dropped when the kind-hearted pastor declined to prosecute, officials said thursday. “i believe the catholic church is about forgiveness,” father stephen norton, the pastor at st. benedict’s roman catholic church in throggs neck told the daily news thursday. “that’s my role as a priest. we hope this is a good lesson learned for her.” norton said if polito was struggling, she could have come to the otis ave. church for help — rather than rifle through a donation box in the area of the house of worship where parishioners light candles for deceased loved ones.woman caught on video robbing donation box in bronx church “we don’t give out






elections 2017: aap's donation records incorrect: income tax department to elect


new delhi: the income tax department has claimed to have found that audit reports prepared by the aam aadmi party (aap) for donations amounting to about rs 27 crore are incorrect. in a report submitted to the election commission, the department, which has been investigating the donation list of the party+ for the last over an year, has said that the records of donations made to the aap during 2013-14 and 2014-15 had "factual discrepancies" and did not match with the actual funds received by it from various donors. parties prepare audit reports, in consultation with their charted accountants, and submit a copy to the i-t department as per law. officials said the alleged discrepancies in the donation records of party are of about rs 27 crore and has added that the treasurer of the party has






proposed political funding reforms ‘inconsequential’: adr


by: pti | new delhi | updated: february 2, 2017 5:04 pm adr said complete transparency in the finances of political parties has still not been adopted in the budget 2017 .government’s proposed reforms in political funding are “inconsequential” as they will continue to remain opaque while the proposal to limit cash donations at rs 2,000 is flawed in terms of accountability, disclosure and political will, according to think-tank adr. ociation for democratic reforms (adr) keeps a close tab on elections as well as related topics, including on finances of political parties.a day after the government proposed a slew of measures to make political funding more transparent, adr said complete transparency in the finances of political parties has still not been adopted in the budget 2017 . in a move






party hard 2 announced, alpha sign-ups open


b3nb4il|15m ago|news|0|get your party killing instincs sharp and ready to shine! party hard 2 is official and on its way to pc this year, same concept with a new base! party hard 2pcbigbossbattle.comread full story >>bigbossbattle.comalernative sources (1)tiny build announces 'party hard 2'geeknifty.comsactogamer






under the lens: shady poll funding, cash deals and economic fugitives


if fm arun jaitley's last two budgets were about giving evaders a chance to come clean by paying additional tax and penalty, his fourth budget has focused on introducing measures to squeeze unaccounted money and discourage the use of cash across the economy — from a ban on cash transactions of over rs 3 lakh to restricting tax deductions if you make cash donations to charitable institutions. in addition, the government has decided to launch an offensive against those who have fled the country by arming itself with legal powers to confiscate ets of persons such as vijay mallya, lalit modi or even dawood ibrahim. although jaitley promised constitutional safeguards against potential misuse, it is not clear if the law will apply retrospectively. in line with the recommendations of the supreme






driver murders prompt uber to tighten security in brazil


passengers have been able to open fake accounts, request rides to bad neighborhoods and rob drivers with relative impunity. in one incident, a teenage couple stabbed 52-year-old driver modolo filho and stole his suv, leaving him to die on the road. they've since been charged with murder.the company did an internal study shortly after cash was introduced and found it didn't endanger drivers. chauffeurs and police disagreed, saying the company overlooked brazil's violent crime (which is ten times that of india) because cash payments increased business by 15 times in san paolo. "with the numbers that cash was bringing in, no one wanted to see that there might be a problem," an unnamed source told reuters.it would have been ideal for us to have gotten the [social security number] verification






cash transactions 2016: verify online deposits made post demoneti ion, income ta


new delhi: the income tax department has asked taxpayers to verify online the deposits they have made in their accounts post demoneti ion and respond to queries of any mismatch. the department is using data analytics for comparison of deposits made after the november 8 decision+ to s high-value banknotes with information in its database to identify taxpayers whose cash transactions do not appear to be in line with the tax-paying profile. with a view to avoiding undue har ment+ , it has now enabled online verification of these transactions to reduce compliance cost for the taxpayers while optimising its resources. to help taxpayers, it has now brought out a user guide. the information on cash deposits is now available for online verification "in the e-filing window of the pan holder (after






evo 2017: pokken tournament donors pull thousands in charity money


dgenerator|45m ago|news|0|either a cruel, misguided act, a donation that was never meant to be, or something else altogether, some pokken tournament donors have seen their evo 2017 disappear. commerceevo 2017pokkén tournamentwii uapptrigger.comread full story >>apptrigger.comcredit url:https://www.generosity.com/...






italy’s ex-pm renzi calls leadership contest for his pd party


by: reuters | rome | published:february 13, 2017 11:08 pm former prime minister matteo renzi (source: reuters)former prime minister matteo renzi said on monday he wanted to hold a leadership contest in his ruling democratic party (pd), looking for a showdown with his many critics in the group ahead any parliamentary elections.renzi stepped down as prime minister in december after losing a referendum on constitutional reform and wants early elections this year in an effort to regain power. however, his drive for national ballot has been slowed by calls from within the faction-riddled pd for him to step aside as party secretary, a post he has held since december 2013.“i think it’s common sense to accept the idea of holding a congress before a national vote,” renzi told pd bigwigs, referring






aap's donation records incorrect: i-t dept to ec


new delhi: the income tax department has claimed to have found that the audit reports prepared by the aam aadmi party (aap) for donations amounting to about rs 27 crore have discrepancies and are incorrect. in a report submitted to the election commission, the department, which has been investigating the donations list of the party for the last over an year, has said that the records of donations made to the aap during 2013-14 and 2014-15 had "factual discrepancies" and did not match with the actual funds received by it from various donors. parties prepare audit reports, in consultation with their charted accountants, and submit a copy to the i-t department as per law. officials said the alleged discrepancies in the donation records of party are of about rs 27 crore and has added that the






centre walks the fine line on capping cash at rs 15 lakh


the union government has not rejected the supreme court-appointed special investigation team's recommendation of capping cash holdings at rs 15 lakh, but wants to ensure that the move does not lead to har ment and that all safeguards are in place before it is implemented. similarly, officials said, the proposal for a cm's panel to levy tax on cash transactions of over rs 50,000 needed to be analysed to ensure that it does not result in higher cash holdings. "we need to see what happened during those three years when banking cash transaction tax (bctt) was in place. we also need to see that there is no additional cost burden. today, a trader deposits the cash with him in a bank account and withdraws it when he needs it. we should not create a situation where there is a disincentive and he






tmc demands state-funding of elections


by: pti | new delhi | published:february 8, 2017 2:06 pmtrinamool congress in rajya sabha on wednesday demanded state funding of elections to end black money and corporate funding in the political system. raising the issue through a zero hour mention, dola sen (tmc) said her party has during its 18 years of existence stood for electoral reforms and state funding of elections.watch what else is making news:the government, sen said, should take time-bound steps in that direction. dola sen slammed the budget announcement for a cap of rs 2000 on anonymous cash donations as a “decorative gimmick” and said the proposed electoral bonds will mean corporates buy the instruments and give to political parties. “there is no upper limit for any political party to receive donation,” she said asking how






no limit on cash withdrawal from savings bank accounts starting march 13: rbi


in in a big relief after the cash crunch, reserve bank of india on february 8 announced that there will be no limit on cash withdrawal from savings bank account from march 13. the limits on savings bank cash withdrawals post-demoneti ion are to be withdrawn in two stages, the reserve bank of india announced on wednesday, with the limit slated to go up to rs,50,000 per account from february 20, and to go altogether from march 13.rbi deputy governor r gandhi said, “from february 20, cash withdrawal limit from savings account will be rs 50,000 per week and from march 13, there will be no limit on cash withdrawals from savings bank accounts.”meanwhile, repo rate and reverse repo rate remains unchanged at 6.25 percent and 5.75 percent respectively.you may also likerbi said, expected growth is 6






cap on cash donations: former chief election commissioners say more can be done


by: pti | new delhi | published:february 5, 2017 4:08 pm n gopalaswami (express archive p o)the cap of rs 2,000 per person on cash donations to political parties is a welcome move but the provisions can be made more stringent as parties can still find ways to byp laws aimed at cleansing electoral system of black money, former chief election commissioners feel.sceptical that parties can always hoodwink laws, they also suggest that efforts should be made to make donations to political parties totally “cashless” to usher in more transparency.watch what else is in the newsthe former cecs, who had proposed a slew of electoral reforms in their tenure at the nirvachan sadan, said the election commission should also be given power under electoral laws to “deregister” parties which have not contes






tmc demands state funding of elections to end black money


by: express news service | new delhi | published:february 9, 2017 6:07 amtrinamool congress in rajya sabha on wednesday demanded state funding of elections to end black money and corporate funding in the political system.raising the issue through a zero hour mention, tmc’s dola sen said her party has during its 18 years of existence stood for electoral reforms and state funding of elections.the government, she said, should take time-bound steps in that direction.watch what else is making newsshe slammed the budget announcement for a cap of rs 2000 on anonymous cash donations as a “decorative gimmick” and said the proposed electoral bonds will mean corporates buy the instruments and give to political parties.“there is no upper limit for any political party to receive donation,” she said as






an unofficial aclu dash on offers one-touch donations


pryor's aclu dash on uses amazon's iot version to donate $5 to the non-profit organization every time it's pressed. he created a script that pulls up the aclu donation page an inputs his contact information and payment details before submitting the funds. if the transaction goes through, he gets a confirmation via text on his phone. to complete the package, pryor designed a custom label and stuck it on the dash on to make it look a little more official.he says that the on stays close to his laptop and every time he presses it, $5 more goes to the aclu. pryor admits a recurring donation would probably be more efficient, but the act of pressing the on offers a "tactile thrill" and he learned to program the device in the process. he made the code available for others to use as well, but he wa






proposed political funding reforms 'inconsequential': ociation for democratic re


new delhi: government's proposed reforms in political funding are "inconsequential" as they will continue to remain opaque while the proposal to limit cash donations at rs 2,000 is flawed in terms of accountability, disclosure and political will, according to think-tank adr. ociation for democratic reforms (adr) keeps a close tab on elections as well as related topics, including on finances of political parties. a day after the government proposed a slew of measures to make political funding more transparent, adr said complete transparency in the finances of political parties has still not been adopted in the budget 2017 . in a move aimed at promoting transparency in political funding, finance minister arun jaitley in his budget speech had announced capping of cash donation from a single






no limit on cash withdrawal from savings bank accounts starting march 13: rbi


in in a big relief after the cash crunch, reserve bank of india on february 8 announced that there will be no limit on cash withdrawal from savings bank account from march 13. the limits on savings bank cash withdrawals post-demoneti ion are to be withdrawn in two stages, with the limit slated to go up to rs,50,000 per account from february 20, and to go altogether from march 13.rbi deputy governor r gandhi said, “from february 20, cash withdrawal limit from savings account will be rs 50,000 per week and from march 13, there will be no limit on cash withdrawals from savings bank accounts.”meanwhile, repo rate and reverse repo rate remains unchanged at 6.25 percent and 5.75 percent respectively. reserve bank of india governor, urjit r patel while addressing the media following the sixth bi-