Indian marriages are called big and fat primarily because of the lavish amount of money spent on various ceremonies, delicacies and beverages. But believe it or not, the central government's demonetisation announcement led a cash crunch hit couple in Surat to get married for just Rs. 500.
The groom said their family had decided to give up plans for a grand marriage and served the guests with 'chai and paani' (tea and water).
The bride said they were initially tense after Modi made the demonetisation announcement as their wedding date was already fixed, but then the families decided to go ahead with the wedding.
"We were initially tense after Modiji made the demonetisation announcement as our wedding date was fixed. Later after considering the situation, we decided to get married without much grandeur by offering just tea and water to guests," said Daksha, the bride.
"Since our wedding date was already fixed; we decided to give up on grand marriage and instead had a 'chai, paani wala' wedding," said Bharat, the groom.
After the sudden announcement to demonetise Rs 500 and Rs 1,000 notes by Narendra Modi, troubles have increased especially for middle class households and lower income families who do not have much cash deposits in their homes to manage without cash.
Also, thousands of families are also struggling in this wedding season without having cash in hand to manage the expenses. Brides and grooms to be are also feeling the heat due to the government move.
However, in a marginal relief, the RBI has relaxed one of several conditions for withdrawal of Rs 2.5 lakh from bank accounts by making declaration for payments beyond Rs 10,000 only. Earlier, the drawee had to declare all payments he had to make out of the Rs 2.5 lakh withdrawal from the account.
The apex bank said lenders will ask for three documents including a detailed list of persons to whom the cash withdrawn is proposed to be paid together with declaration from such persons that they do not have the bank accounts.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)