Old Rs 500 notes can get farmers fertiliser, seed
New Delhi, November 21
The government today allowed farmers to use now-invalid Rs 500 notes for buying seed and fertiliser for the ongoing Rabi season.
“The relaxation has not been allowed for Rs 1,000 notes as the government doesn’t want hoarded money to come out through this channel,” a top government functionary said.
Farmers can use old Rs 500 notes on production of an ID proof to buy seed from outlets of the Central or state governments, PSUs, national or state seeds corporations, central or state agricultural universities and the Indian Council of Agricultural Research (ICAR).
The government’s focus in the “next eight to 10 days” would be to ease the situation in rural areas, which are suffering due to lack of banking infrastructure and financial instruments.
Besides addressing farmers’ issues by increasing the number of mobile ATMs and banking correspondents, the government is considering relaxation in payment of instalments of term loans and allowing transact