Get Ready To Be Inked For Exchanging Your Old Notes Starting Today
The issue of demonetisation is set to be discussed in the winter session of the Parliament.
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Banks to use indelible ink starting Wednesday to mark customers exchanging defunct currency notes
To ease cash flow, old defunct notes of Rs 500 and Rs 1,000 can be used for utility payments till 24 November
State Bank of India to start dispensing Rs 50 and 20 notes in the coming days
The SC refuses to put a stay on the demonetisation policy, asking the Centre to file an affidavit on the issue
Opposition attacks Modi on the demonetisation issue in an all-party meet on Tuesday
Modi promises discussion on demonetisation in the winter session of the Parliament
On Tuesday, Economics Affairs Secretary Shaktikanta Das announced the use of indelible ink on people to avoid multiple exchanges in banks. The process of inking customers will start Wednesday onwards.
The banks opened after a day break on Tuesday with people queuing up outside them to withdraw and exchange cash. Some respite is expected soon as SBI chairperson, Arundhati Bhattacharya, announced that the ATMs would start dispensing Rs 20 and Rs 50 notes.
Get Ready to be Inked
Addressing the media on Tuesday, Economic Affairs Secretary Shaktikanta Das on Tuesday said that indelible ink marks will be used from now on to prevent multiple exchanges by one person.
Taxmen Preparing For Swoop on Dubious Depositors Post 30 Dec
Come 2017, and the Income Tax department is preparing to serve notices on all those now depositing money in banks that is disproportionate to their known sources of income.
Informed sources said the department will start serving the notices just after 30 December – the deadline set by the central government to deposit and exchange the demonetised Rs 500 and 1,000 notes.
The notices will go to those who have deposited or received cash in their accounts more than double their income, a highly placed Finance Ministry source said, adding that the department had deputed special teams to track such account holders across India.
“Knee Jerk” Demonetisation Will Have Repercussions on the Economy, Warns Rahul
In a press conference, Congress Vice President Rahul Gandhi said that “knee jerk” move of demonetisation will have a lot of repercussions to the country’s economy.
He also accused the BJP-led central government of running a scam in the name of demonetisation.
However, the Congress Vice President later contradicted himself. After talking about a potential scam being carried out by BJP, he said:
No Rollback, But Proper Implementation of Demonetisation
After the All Party Meeting, senior Congress leader Ghulam Nabi Azad said, “Opposition will be united come what may, and will raise issues together.”
CPI (M) General Secretary, Sitaram Yechury had also demanded a proper implementation of demonetisation, instead of a roll back in the all party meeting.
Modi Promises Discussion on Demonetisation in Winter Session
Union Minister Ananth Kumar revealed details of the All Party Meeting in a press conference.
Kumar also hinted at the possibility of a discussion on holding Lok Sabha and Rajya Sabha elections together.
Opposition United Against Note Ban, Divided Over March to President
Speaking to mediapersons, TMC Chief and CM of West Bengal Mamata Banerjee said that no time can be wasted on addressing this “financial calamity” of demonetisation.
Banerjee announced her decision to march to the Rashtrapati Bhavan on Tuesday, claiming that even seven days after Modi’s announcement the situation continues to be a nightmare for the common man.
“The Congress and the CPI (M) can have their own march, but we can’t delay the issue any further”, Mamata Banerjee told reporters.
After a meeting, the Congress has decided to take up the issue in the Parliament first before taking it to the President.
United Govt Not Anti-Govt, But Concerned About 125 Crore Indians: Shiv Sena
Shiv Sena President Uddhav Thackeray has discussed the fallout of demonetisation with West Bengal Chief Minister Mamta Banerjee, party MP Sanjay Raut said on Tuesday.
The Shiv Sena is a constituent of the ruling Bharatiya Janata Party-led NDA at the centre and in Maharashtra, and has virulently criticised the demonetisation.
Kejriwal Alleges Unaccounted Transaction of Rs 25 Crore Between Aditya Birla Group, Modi
“For the first time in the history of independent India, a Prime Minister's name has come in black money transactions”, Delhi Chief Minister Arvind Kejriwal said in the Delhi Assembly on Tuesday.
Kejriwal alleged at the assembly that the CBI had recovered unaccounted transactions of Rs 25 crores between the Aditya Birla group and Narendra Modi, who was the Chief Minister of Gujarat in 2013, in a search operation at the company’s Delhi office.
He also condemned the way Prime Minister Modi had introduced the demonetisation policy.
He moved a resolution in the assembly urging the President to direct the government to withdraw the policy.
“Reveal Black Money Hoarders’ Names, PM”, Congress Demands
Congress leader Kapil Sibal slammed Modi for being indifferent to people’s hardships after demonetisation.
He also brought up the unfulfilled promise of bringing back the black money stashed in foreign accounts that Modi had made before the general elections.
Sibal also criticised the decision of using indelible ink to check multiple exchanges at banks.
He raised doubts about the government claims of having put ten months’ work behind the move of demonetising Rs 500 and Rs 1000 currencies.
SC Refuses Stay on Demonetisation
The Supreme Court on Tuesday refused to put a stay on the demonetisation policy, asking the Centre to file an affidavit on the issue.
The apex court said this after hearing the Public Interest Litigation (PIL) filed by various petitioners challenging the government’s move.
It further asked the government to explain the measures it’s taking to avoid the hardships that people are facing.
Didi Plans March to Rashtrapati Bhavan
Reacting to the announcement of using indelible ink at banks, West Bengal Chief Minister Mamata Banerjee said that this “desperate attempt to start a ‘black mechanism’ with indelible ink shows this government distrusts the common people.”
The chief of Trinamool Congress also announced her decision to march up to the Rashtrapati Bhavan to meet the President at 1:30 on Wednesday, to discuss a solution to the “serious issue” of demonetisation.
Shiv Sena, National Conference leader Omar Abdullah and Delhi CM Arvind Kejriwal extended their support towards her decision.
PM Modi’s Mother Reaches Bank to Exchange Currency
Prime Minister Narendra Modi’s mother Heeraben Modi has reached a bank in Ahmedabad to exchange currency worth Rs 4,500.
Banks Reopen on Tuesday After Bank Holiday
Tuesday is likely to witness a mad rush outside banks in the country as they reopen after a public holiday on Monday to mark Gurpurab.
Banks across 18 states in the country were shut, leaving millions of people angry and disappointed. There were long queues outside ATMs in the country, many of which were shut or did not dispense any cash.
Economic Affairs Secretary Shaktikanta Das announced that recalibrated ATM machines would start dispensing the new Rs 500 and Rs 2,000 notes from Tuesday.
He will also address a media briefing at 11:30 am on Tuesday.
While Finance Minister Arun Jaitley had reassured the nation that banks that were not shut on Monday would operate at full capacity, the situation on the ground was quite different.
“Modi ji says the poor are sleeping peacefully and the rich are taking sleeping pills, but look at us. Rich are in peace, they can simply throw money,” says Bablu, referring to Prime Minister Narendra Modi’s speech at a rally in Ghazipur, Uttar Pradesh on Monday.
Cheer Amidst Chaos: SBI to Dispense Rs 50, 20 Notes in Coming Days
In news that might bring some cheer, the State Bank of India will start to dispense Rs 50 and 20 notes in the coming days, SBI Chairman Arundhati Bhattacharya said.
In Hope of Exchanging Notes
Serpentine lines outside banks and ATMs have already begun in major cities across the country.
The Ministry of Finance has also directed all banks to have separate queues for senior citizens and disabled people.
To Ease Transactions, Withdrawal Limit Increased
In a statement on Sunday, the finance ministry said:
The weekly limit of Rs 20,000 for withdrawal from bank accounts has been increased to Rs 24,000.
Rs 500, 1000 Notes Valid For Utility Payments Till 24 November
With no end in sight for the cash crunch faced by millions, the government has eased restrictions on withdrawal of alternate currency and extended by 10 days deadline for use of the defunct 500 and 1,000 rupee notes for paying utility and fuel bills.
The government extended use of old defunct Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees and purchases from cooperative stores till November 24.
This list was also expanded to include payments for metro rail tickets, highway and road toll, purchase of medicines on doctor’s prescription from government and private pharmacies, LPG gas cylinders, railway catering, electricity and water bills and ASI monument entry tickets.
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