After demonetized of old 500 rupee and 1000 rs notes, crises of money in the market are increasing especially in the rural area where no proper connectivity of banking channel. Hence RBI took more steps for allowing of old 500 rs notes for purchase of seeds.
As per announcement of Finance ministry, That Farmer can purchase seeds using old notes from the outlets of central or state governments, state-run enterprises and national or state seeds companies and agricultural universities upon furnishing a valid proof of identity. it said that The government is committed to ensuring that farmers are suitably facilitated during the Rabi season.
The further government also extended the validity for payment of crop insurance premium by 15 days. also, register trader with APMC (Agricultural produce market committee) can withdraw up to 50,000 per week from the bank.