Old bank notes of 500 accepted for seed purchase with proof of identity from Central/State Govt. Centres, PSUS or specified Corporations Universities

Old bank notes of 500 accepted for seed purchase with proof of identity from Central/State Govt. Centres, PSUS or specified Corporations Universities

MINISTRY OF FINANCE
(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 20th November, 2016

S.O. 3490(E).—In exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby further amends the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs number S.O. 3408(E) dated the 8th November, 2016 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 8th November, 2016, namely:—

1. In the said notification, in paragraph 1, after clause (q), the following clause shall be inserted, namely:—

“(r) for making payments towards purchase of seeds from the centres, units or outlets belonging to the Central or State Governments, Public Sector Undertakings, National or State Seeds Corporations, Central or State Agricultural Universities and the Indian Council of Agricultural Research, on production of proof of identity:

Provided that for the purposes of this clause, specified bank notes shall mean bank notes of the denominational value of five hundred rupees.”.

[F. No. 10/03/2016-Cy. I]
Dr. SAURABH GARG, Jt. Secy.