RBI to announce facility for NRIs to exchange old notes
The Reserve Bank of India (RBI) on Saturday said that it will introduce a facility for exchange of old specified…
BSP chief Mayawati on
Wednesday questioned the government’s preparedness for the demonetisation of
high-value bank notes, accusing it of spending the last ten months on settling
the black money of its people.
Participating in a debate in the Rajya Sabha on the demonetisation of
high-denomination currency notes, she said: “The government has said that
they spent ten months preparing for this decision. Ten months was a long time
to prepare. If they were serious about it, they would have prepared well for
all the problems that people are facing today.”
“What we are witnessing in India today would not have happened had they
prepared,” she added.
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Accusing the government of supporting those close to it in settling their
ill-gotten wealth, Mayawati said: “In the last ten months, the BJP
government has worked to help the party supporters and big businessmen to
settle their black money.
“If the government had spent ten months preparing for it, then why do they
need another 50 days? There is something fishy.”
Prime Minister Narendra Modi on November 8 announced the demonetisation,
effective that midnight, of the highest denomination Rs.1,000 and Rs.500 notes.
The phased out notes may be exchanged by the public from banks and post offices
across the country till December 30 for new Rs 2,000 and Rs 500 denomination
currency notes.
People have suffered anxious moments over the past week lining up at bank
branches, post offices and ATM outlets to withdraw cash for their needs.
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