"To further support farmers for the current Rabi crop, the government has decided to allow farmers to purchase seeds with the old high denomination bank notes of Rs. 500 from the centers. Units or Outlets belonging to the Central or State Governments, PSUs, National or State Seeds Corporations, Central or State Agricultural Universities and the ICAR, on production of proof of identity," the statement read.
Using the old notes, the farmers can purchase the seeds from central or state government outlets, PSUs, national or state seeds corporations, central or state agricultural universities and the Indian Council of Agricultural Research.
The move will bring huge relief to farmers & rural India outlets keeping in mind the the Rabi harvesting season.
"This is in addition to the decision taken earlier for making cash available with the farmers by permitting them to draw up to Rs. 25,000 per week from their KYC compliant accounts subject to the normal loan limits and conditions apart from the other facilities announced on 17.11.2016," the notification issued by the government said.