SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Assocham urges govt to increase cash withdrawal limits for transporters

28 Nov 2016 Evaluate

In view of the problems faced by the transporters after the government’s decision to demonetize Rs 500 and Rs 1,000 notes, the Associated Chambers of Commerce & Industry of India (Assocham) urged the government to consider among other relief measures, increasing the cash withdrawal limits for logistic and transport fleet owners as they need hard cash for meeting expenses for crew members including truck drivers and cleaners. It said that the note ban has come as a bottleneck to the transport business.

As per the latest Assocham study on Transport and Logistics, a close to 10 percent of the en route expenses of trucks on trunk routes are accounted for by drivers and other support crew for the journeys which take 7-8 days on a single trip. The study noted that the fuel accounts for 52-66 percent of the total trip expenses, another 25-40 percent are to be accounted for sub heads like tolls, octroi, speedy clearance at check posts etc. Hence, all this money is required in cash, the driver also acts as a petty cashier.

The industry body has suggested the government to review the cash withdrawal limit of Rs 50,000 from the current account per week and raise to minimum Rs 4-5 lakh, which is bare minimum. Besides, the fleet owners face other problems which need to be resolved for improving the overall efficiency of the fleet owners and ease of doing business. Faster turnaround of trucks alone in the absence of check posts may improve the operational efficiency of the road transport sector. According to the study, presently, there are 177 inter-state check posts and 268 toll barriers on national highways.


About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: