After demonetisation, the whole country facing cash crunch due to shortage of new currency. After one month of the announcement, people were seen in long queues standing outside banks and ATMs repeatedly every day and suffering many problems and facing hardship in getting new currency.
To overcome these problems, the Union Finance Minister Arun Jaitley said that the Reserve Bank of India (RBI) will inject “significant amount” of new notes in the system to ease the prevailing cash crunch.
While interacting with media, the Union Finance Minister Arun Jaitley said, “Every day, RBI is injecting a large amount of currency. Significant amount will be injected in the next three weeks, which will gradually bring the pressure down.”
Jaitley also said over demonetisation that it has forced “unaccounted” cash operating in the system to return to the banking system.
He said, “Loose cash operating in the system has come back to the banking system, it was unaccounted.”
Jaitley labeled the move as hugely in favour of digitisation, said, there wee many advantages to it and future transactions would be substantially digitalised.
He added, “Digitisation has ability to support a society which has much less cash. The government has started overhauling the system.”
When government is talking about the Digitisation, on the other hand the shortage of new currency notes making people to suffer problems in fulfilling their household needs and due to which the opposition members in both the houses Lok Sabha and Rajya Sabha hitting the government and declaring this decision of government as monumental mismanagement.
Earlier, the former Prime Minister Manmohan Singh declared this government’s decision as Monumental Mismanagement and today former Finance Minister P. Chidambaram followed that statement and declared it true.
--with agency inputs
|
|
Comments:
