Cash transaction limit relief for primary co operatives raises the threshold before penalty for member transactions. The amendments raise the electronic payment threshold for primary agricultural credit societies and primary co operative agricultural and rural ... Summary
Cash transaction limit relief for primary co operatives raises the threshold before penalty for member transactions.
The amendments raise the electronic payment threshold for primary agricultural credit societies and primary co operative agricultural and rural development banks so that acceptance of loans or deposits from, or repayment to, their members will be required to be by account payee cheque, account payee bank draft or online bank transfer only where the amount equals or exceeds two lakh rupees; penalties will attach only above that threshold.
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