- P Chidambaram called demonetisation “single biggest case of total mismanagement” on Friday
- Prime Minister Modi launched a mobile application, BHIM, at the DigiDhan Mela to carry out digital transactions earlier in the day
- The 50-day deadline to deposit old Rs 500 and Rs 1,000 notes ends today
- Currency notes can still be exchanged at designated RBI counters till 31 March 2017
- Prime Minister Narendra Modi is likely to address the nation on 31 December and roll out a massive campaign on New Year’s Eve, reportedly
Jaitley Briefs Media, Asks it to Stop Showing Old Pictures of Queues
Arun Jaitley, the current Finance Minister, addressed a press conference on Friday and said that the situation has now normalised. He also asked the media to stop showing images of queues before 10 December.
Normalcy has been restored to a large extent. Post 31st December I would urge (media) to not show queues before 10 December.
Jaitley also commented on the government’s crackdown on black money and said:
Since there’s been efforts by the Government of India to eliminate where it can the black money and its users in India, revisiting of this agreements was important... I would like to learn that economics where lower GDP leads to higher tax revenues.
Demonetisation was Single Biggest Case of Total Mismanagement: Chidambaram
Addressing a press conference after the launch of BHIM, former Union Finance Minister P Chidambaram slammed demonetisation and called it “the single biggest case of total mismanagement, administrative collapse and widespread corruption”
He also said that contrary to the policies and decisions of the previous RBI governors, Urjit Patel’s decision to go ahead with the currency ban should be lauded.
I must congratulate Urjit Patel, who, within 62 days of taking over (office of the RBI governor) hit upon the idea that demonetisation is the way of turning around the economy.
Additionally, referring to the issue of terrorism in Jammu and Kashmir, he said that terrorism can be funded by the new currency just as well and that the death toll of security personnel in the region has only doubled since 2015.
The situation (in Jammu and Kashmir) has become worse, not better.P Chidambaram
A minister recently remarked that I moved a mountain only to find rats. But the point was to find the rats who were slyly stealing everything.Narendra Modi
Internet Will Not Be Needed Soon to Carry out Transactions, Just Thumbprints Will Do: PM Modi
Stating that BHIM will be "the world's biggest wonder", PM Modi said that soon an internet connection would not be required to use the application.
Dr Ambedkar’s mantra was to work for the upliftment of the poor. And the biggest power of technology is that it can empower the poor... In two weeks, we will achieve one more feat to empower BHIM. You’ll only require your thumb to pay.
He added that technology is not a toy for the educated and the rich. It’s in fact a boon for the poor and the underprivileged.
The Indian leader also lauded the media for helping the government empower the poor with its schemes.