The Governor of the Reserve Bank of India (RBI) Urjit Patel is scheduled to brief the the Parliamentary Committee on Finance about the post demonetisation effects of Rs 500 and Rs 1000 currency notes on Thursday, December 22 at the Annexe building.
Ever since Prime Minister Narendra Modi have announced the demonetisation of Rs 500 and Rs 1000 currency notes as much as 86 percent of the total notes in these denominations have been collected from circulation.
Repeated assurances by the RBI about the availability of enough cash have failed to convince the people in general who have been subjected to stand in long queues both before banks and ATM kiosks.
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As per RBI statement Rs 12.44 lakh crore has been collected by banks and Rs 4.61 lakh crore have been issued to the public through ATM machines and bank counters.
Deputy governor of RBI R Gandhi has said that as much as 21.8 billion pieces of banknotes of several denominations have been issued by the RBI. Ever since demonetisation government have been granting several sops in terms of service tax and incentives to promote digital payments. On December 15, RBI Governor Urjit Patel was heckled by Congress workers at Kolkata airport when they were protesting against demonetisation.
Where several corners, be it political opposition or otherwise the demonetisation drive of the government have also received overwhelming support by the public in general who have been reeling under the oppression of black money. Bollywood megastar Aamir Khan have today come out in full support of the drive undertaken by the government, “It’s something that we should support. The government is trying to improve the situation that we have in the country.’
(With inputs from PTI)