1. Did a Gujarat businessman surrender Rs 6,000 cr following Narendra Modi government’s demonetisation drive?

Did a Gujarat businessman surrender Rs 6,000 cr following Narendra Modi government’s demonetisation drive?

The Surat-based diamond merchant, reportedly known as Laljibhai Patel's surrender of the huge amount of cash to the government came days after the implication of the Modi-government's new anti-graft policy.

By: | New Delhi | Updated: November 15, 2016 11:06 AM
Chinese media, Chinese media on PM Modi, Chinese media on indian PM, Chinese media on Modi, Chinese media on Modi government The actual reason for the surrender of Rs 6,000 crore by the businessman is yet not known. (PTI)

In a major impact after the announcement of the demonetisation policy by the Narendra Modi government, a businessman from Surat had today surrendered Rs 6,000 crore, all in cash, to the government. Citing rise in the circulation of black money in the country, Prime Minister Narendra Modi on November 8, had initiated the demonetisation policy, following which currency notes of the denomination Rs 500 and Rs 1,000 had been banned and replaced with new currency notes.

The Surat-based diamond merchant, reportedly known as Laljibhai Patel, surrendered the huge amount of cash to the government within days of the demonetisation policy of the Modi-government came into effect. However, the actual reason behind the surrender is yet unknown.

Known for his charitable and philanthropy works, Patel had, earlier this year, donated an amount of Rs 200 crore for the purpose of girl child education in the country. The diamond merchant had also been known to have gifted cars and flats to his employees during Diwali.

The initiation of the demonetisation policy by the government had been a pain for the common prople, with many standing on long lines outside banks and ATMs, to save their currency notes from turning into useless pieces if paper. Though the actual impact of the policy is yet to be evident, the huge amount of cash surrender by the businessman came as the biggest development after the implication of the note-ban policy.

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