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Remove cap on cash withdrawal for industries: Assocham
Industries should be speared from cash withdrawal limit as the Rs 50,000 cap is too low and needs to be enhanced, industry body Assocham said. Urging the government to consider lifting the cash withdrawal limit for corporate firms, Assocham said there is no scope of misuse as these transactions are properly recorded and audited. Assocham also fears that companies dependent on banks and financial institutions for finance would be hit by the limited cash availability.
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