Trust us, this is one charitable offer you can't refuse!

Trust us, this is one charitable offer you can

Submitted by alvin on Wed, 2016-11-23 09:29 Bengaluru: An advertisement allegedly issued by an ashram, which claimed that it would convert demonetised Rs.500 and Rs.1,000 notes into new notes for commission, triggered outrage among citizens in the state.An activist said there were rumours of mutts and ashrams being involved in such illegalities but the advertisement had come as a real surprise. Several citizens felt that the advertisement was a reflection of how a few ashrams were being used by vested interests for illegal activities. “It is shame on mutts and ashrams. If this advertisement was issued by the ashram itself, it is a black mark on religious institutions in the state,” said a pontiff.Confusion over RBI normsOn Tuesday, RBI published a new set of withdrawals norms for marriages, according to which citizens can withdraw a maximum Rs2,50,000 from their bank deposit accounts till December 30 to meet wedding related expenses.But according to the guidelines, withdrawals are permitted only from fully KYC compliant accounts. The amounts can be withdrawn only if the date of marriage is on or before December 30. Rules also prescribed that withdrawals can be made by either of the parents or the person getting married. (Only one of them will be permitted to withdraw). Since the amount proposed to be withdrawn is meant to be used for cash disbursements, it has to be established that the persons for whom the payment is proposed to be made do not have a bank account.The guidelines also demand providing evidence of the wedding, including the invitation card, copies of receipts for advance payments made, proof of marriage hall booking, advance payments to caterers, etc. Needless to say, citizens feel that the guidelines are too stringent.Rs500 notes arrive in cityThousands of city residents, who had queued up outside ATMs on Monday night, had a surprise in store: they were able to get their hands on the much-coveted Rs500 note.According to bank officials, the new Rs500 notes were distributed in the city on Monday evening. Official said the notes were distributed only in selected ATMs which had been re-calibrated. Normalcy is also returning at bank branches across the city following cash infusion, claimed bank officials.