How to get wedding withdrawal of up to Rs. 2.5 Lakhs from bank account?
Posted on: 17/Nov/2016 3:04:03 PM
The Economic Affairs Secretary Shaktikanta Das announced today (Thursday, 17th November) that the families organizing weddings can withdraw of up to Rs. 2.5 Lakhs from their savings bank accounts.
Following the severe crisis faced by the public for money after the announcement of Rs. 500 and Rs. 1000 currency notes as invalid, and the various protests organized/expressed over this, the central government has announced a few concessions.
How to avail these concessions?
The family planning a wedding can take up to Rs. 2.5 Lakhs from their account. However, this amount of Rs. 2.5 Lakhs can be drawn only from the same single account.
This amount can be drawn from the accounts of the bride, bridegroom, or the parents of both.
Another condition is that the savings account details of the person should be in the KYC scheme (Know Your Customer). It means that certain important personal details such as PAN card, Aadhar card. Etc., should be registered in the account particulars.
Further, the person drawing this amount will have to make a self-declaration regarding the planned wedding and submit to the bank.The Reserve Bank of India has insisted that KYC must keep the particulars of the account holder such as ID proof, address, etc.
Generally, there might not be any major changes in the ID of the bank account holder. However, there is a scope for the change in address, so, the banks should keep checking and entering the latest correct address of the saving account holders. They have to check and confirm these particulars from the PAN Card, Aadhar card, Driving Licence, or Passport.
