New Delhi, Jan 30 (IANS) With the RBI on Monday lifting restrictions on cash withdrawal from current accounts, the Election Commission (EC) is set to ask candidates to open such accounts only, sources said.
The poll panel had earlier asked candidates to open separate accounts for election-related expenses to be monitored by the poll panel, but had not specified if these should be current or saving accounts. Usually, most candidates would opt for savings accounts.
However, with the Reserve Bank of India ending curbs on withdrawals from current accounts, cash credit accounts and overdraft accounts with immediate effect, the EC will ask candidates to open current accounts in order to be able to withdraw sufficient cash.
The EC had earlier asked the central bank to increase cash withdrawal limit for candidates to Rs 2 lakh per week, but not got a positive response.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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