RBI had set a cash withdrawal limit of Rs24,000 per week per person after the government’s demonetisation move on 8 November. The Commission had on Wednesday requested RBI to enhance the withdrawal limit of candidates to Rs2 lakh from Rs24,000 per week imposed post demonetisation as the nominees would find it difficult to meet their campaign expenditure. On Wednesday, the Commission had told RBI that it has been apprised of the problems candidates were facing due to withdrawal limits imposed after the note ban. The Commission said that with a weekly withdrawal limit of Rs24,000, a candidate would be able to withdraw Rs96,000 in cash during the election process which lasts three to four weeks. The poll panel said despite paying amounts through cheques, candidates still need hard cash for petty expenses.

Source: Mint January 29, 2017 13:55 UTC