Wednesday, January 19, 2022

EC writes to RBI again: Raise weekly withdrawal limit for candidates contesting polls

On January 25, the EC asked the RBI to raise the bank withdrawal limit from Rs 24,000 to Rs 2 lakh per week.

By: Express Web Desk | New Delhi |
January 29, 2017 4:59:17 pm
punjab polls, punjab assembly elections, NRI, NRI campaign, election commission, punjab polls news, indian express news Election Commission of India (File Photo)

The Election Commission of India on Sunday took strong exception to the “cursory” manner in which the Reserve Bank of India dealt with its request to relax the weekly withdrawal limit for candidates contesting in five poll-bound states. Reminding the RBI that it has a constitutional mandate to conduct free and fair polls, and hence its directions should be complied, the EC once again wrote to the central bank asking it to relax the bank withdrawal limit.

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On January 25, the EC asked the RBI to raise the bank withdrawal limit from Rs 24,000 to Rs 2 lakh per week. Its proposal was shot down by the RBI. The limit came into effect in November as part of Prime Minister Narendra Modi’s demonetisation drive. Candidates contesting elections in Punjab, Uttarkhand and Uttar Pradesh are allowed to spend Rs 28 lakh towards campaign expenses. Those contesting in Manipur and Goa can spend up to Rs 20 lakh. Under the current withdrawal limits, a candidate can withdraw not more than Rs 1 lakh as the poll campaigning exercise doesn’t usually last for more than a month.

“We are apprised of the problems being faced by the candidates due to imposition of limits on withdrawal of cash from banks,” the Commission said earlier. Goa and Punjab will go to polls on February, Uttar Pradesh on February 11, Uttarakhand on February 15, and Manipur on March 4. Counting of votes for all the five states will begin on March 11.

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