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RBI limits withdrawal of 10000 from Jan Dhan and 5000 from Non-KYC

After banned of 500 and 1000  old notes now RBI has also banned on PMJDY(Pradhan Mantri Jan-Dhan Yojana) account holder on cash withdrawal action .RBI has launched his new notification that account holders of Pradhan Mantri Jan Dhan Yojana can only withdrawal of Rs 10000 in month from Jan Dhan account .

This notification applies to know your customer – complaint Pradhan Mantri Jan Dhan Yojana.

Why RBI has released this types of notification ?

The Region behind new notification is that;

  • To prevent innocent framers and rural account holders of PMJDY from money laundry. And to protect these framers from money laundry law.
  • To protect farmer from legal consequence and under the benami property transaction .
  • To stop framers from conversion of black money into white money. By holding black money in their account. Because farmer are so poor and for little money they can do any things .           

Non KYC(Know-Your-Customer) Complaint PMJDY Account Holders limit

Account holders can withdrawal 10,000 in a month where Limited or non KYC complaint pmjdy account holders can only withdrawal rs5000.

But what to do if any one need more than 10000 amount?

RBI has also said that if any one need more amount more than 10000 then they have to submit all necessary documents and also give proper region to bank manager for money limit exceeds and if manger done ok then he or she can withdrawal more than 100000.

New Notification of Tax on Un-account  Cash Holders

RBI has also announced new notifications and rules of tax on unaccount cash holder.

Government has given open opportunity to deposit unaccount cash on bank or black money holders a one time window to pay total tax of 50%including surcharge and penalty  from 10nov to 30 Dec. This tax will be included under Pradhan Mantri Garib Kalyan Yojana 2016.

If during Government period and by yourself  you are showing your black money to government in bank then tax man will be less either on conseal or caught tax ammount will be higher like 85% on your concealed income 60% tax plus 15%surcharge and 10%penalty these are  announced by finance minister Arun Jaitley in act I-TAct.

Over all these all charges and penalty  black money.and these all tax cash will be expanded on poor people of country and for their benefit like irrigation,education etc.

Rupanjali Upadhyay

Rupanjali Upadhyay

Blogger | Writer | Passionate Startup