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Guidelines frustrate families seeking cash for weddings

marieprom (marieprom)

Families who have weddings this season are on tenterhooks following the RBI guidelines on withdrawal of cash. They continue to face a number of hurdles before withdrawing Rs 2.5 lakh.

One of the RBI guidelines says that those parents seeking cash should give evidence of the upcoming wedding, including an invitation card, copies of receipts of advance payments already made such as marriage hall booking, advance payment to caterers, etc. Another guideline, which has had parents scratching their heads in frustration, is that the documents should also include “A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with declaration from such persons that they do not have a bank account. The list should indicate the purpose for which the proposed payments are being made.”

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Apart from these instructions, the conditions that the amount can only be withdrawn if the date of wedding is on or before December 30, and it must include the name and the address of the bride and the groom, have added to their frustration.

“I have been doing the rounds of banks for withdrawal. But for one reason or the other, I have to return empty-handed. Now, these new conditions have added to our problem,” said Harbir Singh Tiwana, whose son’s wedding is scheduled for December 10. “I am exhausted. I have been gradually depositing money for the wedding of my only son. And now for the most important day, I am being made to do the rounds of banks and to make requests to caterers and tent guys to give me in writing that they don’t have bank accounts, which they are not willing to,” he said.

A banker, KL Sethi, said even though they wanted to give cash to residents having weddings in their families, they had no choice but to abide by the new guidelines by the RBI.

“We understand the plight of several such parents and families, who have been put into such difficult situation. It is the dream of every parent to get their children married well. But the government, it seems, doesn’t realise the agony of parents,” Gagan Lamba, another resident said.

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2016-11-28 -05:00
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