Hero MotoCorp Director Sunil Munjal on Monday said that it may take another 2-3 months for normal circulation of new currency notes of Rs 500 and Rs 2,000 issued by Reserve Bank of India. Munjal added that SMEs will see the revival in demand only if the cash comes back into the system. Munjal made the comments while speaking to CNBC TV-18. Praising Prime Minister Narendra Modi’s new year speech, he said: “PM Took Away Thunder From Finance Minister With His New Year Announcements.”
The old currency notes of Rs 500 and 1,000 were demonetised, while new ones of Rs 500 and Rs 2,000 were issued by the Reserve Bank of India. In his 31st December speech, PM Modi has said that banks have been asked to take special care of people facing trouble in rural areas. Assuring people of better days ahead, PM Modi said that banks have been urged to focus on dealing with the problems that people are facing.
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“Banking people have been asked to ease the problems that people are facing, this is particularly for the rural areas, so that villagers and farmers don’t have to bear any more pain,” he said. PM Modi started his address by saying that the youth of India will welcome the New Year with new enthusiasm.
PM Modi started his address by saying that the youth of India will welcome the New Year with new enthusiasm.