Business

Call warns of plot to kill PM Modi

Call warns of plot to kill PM Modi”

He also held the Prime Minister responsible for the repeated stalling of Parliament over the issue.

There have been multiple reports of factory owners and businessmen asking staff - or even hiring casual labourers - to stand in bank queues and exchange cash for them before the December 30 deadline. "We are working to change that", he added. However, money exchange traders in Kabul have reportedly said they were holding about Rs 60 crore in Indian currency notes.

Without resorting issuing a political statement by supporting or opposing the centre's move, he spent couple of days to study the problem of black money and effects of demonetization in a constructive way.

Calling Narendra Modi "the most arrogant Prime Minister", she said: "The hasty and arbitrary decision was taken without proper planning". Many others, without cash in hand and credit card, have started return journey to their villages. A 2015 study by the Indian Statistical Institute, Kolkata on behalf of the National Investigation Agency had estimated ₹400 crore worth of fake currency-roughly 0.027% of the ₹14.73 lakh crore worth of the currency demonetised-is in circulation in the Indian economy. "Withdrawal of Rs. 500 and Rs. 1000 currency notes have choked funding of terror groups", he added further. "This black economy is making the country hollow from within", Modi said.

In this chaos, what has not been asked enough is how the apex monetary authority responsible for the stability of the economy could allow this to happen? Millions of Indians have been waiting for hours to get their hands on cash they can still use.

The government has formed special teams to assess the transactions of jewellery shops across the country.

Addressing a rally in Agra, he said the decision to scrap notes of Rs 500 and Rs 1000 denomination was not meant to cause harassment to the common people but they will have to take the "trouble" for 50 days for ensuring a bright future for the coming generations.

The Opposition parties demanding roll back of demonetisation move has got a shot in their arm as former RBI Deputy Governor Kamalesh Chandra Chakrabarty has slammed the government's scheme saying that there was no economic rationale behind the ongoing note ban drive. The opposition parties and the media are exploiting this situation to carry out vicious propaganda amongst the people against the demonetization move.

The initial over-the-counter currency exchange limit was 4,000 rupees but was later reduced to 2,000 rupees after the government said "unscrupulous elements" were paying the poor to queue to exchange their money.

The demonetisation also coincides with India's wheat sowing and wedding season, both of which are of critical importance to the bulk of the country's rural populations and which now face an apocalyptic depletion of cash.



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