By NEW DELHI: Opposition leaders on Saturday struck out at the federal government after the
RBI
announced the withdrawal of
Rs 2
,000 currency notes from flow, with Congress president Mallikarjun Kharge asking if the “2nd
demonetisation
is an effort to conceal the wrong choice made previously.
He likewise required an unbiased probe into the whole demonetisation episode.
In a surprise relocation, the Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2,000 currency notes from flow however provided the general public time till September 30 to either deposit such notes in accounts or exchange them at banks.
It stated it had actually asked banks to stop providing Rs 2,000 notes with instant result.
In a tweet in Hindi,
Kharge
stated, “You caused a deep injury on the economy with the first demonetisation. Due to this, the whole unorganised sector was damaged, MSMEs were shut down and crores of tasks were lost.”
“Now, the ‘2nd demonetisation’ of Rs2000 note … Is this a cover-up of a wrong choice? Just an impartial examination will expose the fact of the matter,” the Congress chief stated.
Independent Rajya Sabha MP Kapil Sibal likewise attacked the Centre over the choice and remembered Prime Minister Narendra Modi’s remarks at the time of the 2016 demonetisation that the magnitude of money in flow is straight connected to the level of corruption.
He stated, “Rs 2000 notes ditched. PM to Nation: November 8, 2016, ‘The magnitude of money in flow is straight connected to the level of corruption’. Money in blood circulation: 2016 (17.7 lakh crores); 2022 (30.18 lakh crores). : Corruption increased! What state you PM ji?”
Sibal was a Union minister throughout UPA 1 and 2 and had actually stopped the Congress in May in 2015. He was chosen to Rajya Sabha as an Independent member with the Samajwadi Party’s assistance.
Trinamool Congress MP Mahua Moitra stated, “No civilised country puts its individuals under continuous worry of money relying on toilet tissue. Why should we worry about our wallets vaporising every couple of years?”
“BJP & Modiji’s interruptions cut no ice. You lost Karnataka. You will lose more states. You can not conserve Adani,” she stated.
Responding to the advancement, AIMIM chief Asaduddin Owaisi presented 5 concerns to Modi.
“Five concerns to Top Economist PM Modi:@PMOIndia. 1. Why did you present the 2000 note in the first location? 2. Can we anticipate 500 note to be withdrawn quickly? 3. 70 crore Indians do not have a cellular phone, how do they do digital payment?
“4. What is the role of Bill Gates owned Better Than Cash Alliance in making you do Demo 1.0 and 2.0? 5. Is NPCI being hacked by Chinese hackers? If so, what will take place to payements when war takes place,” he asked.
A host of Congress leaders likewise slammed the PM over the relocation.
In a tweet, Congress basic secretary organisation KC Venugopal stated, “I remember the prescient words of our previous PM Dr. Manmohan Singh, who called demonetisation an act of ‘organised loot and legalised plunder’ and its execution was a ‘significant management failure’.”
The ditching of the Rs 2000 note is yet another evidence that the Modi federal government put in no idea prior to taking the eventful choice of November 8, 2016 that triggered prevalent suffering amongst the bad and middle classes, he stated.
“This withdrawal shows they have no insight and just take shock-and-awe choices for their political posturing,” he stated.
Congress’ media and promotion department head Pawan Khera took a swipe at Modi, stating the one who could not utilize the note printed by himself even for 7 years asks what the nation carried out in 70 years.
Congress MP Manish Tewari stated the RBI’s reasoning behind the withdrawal of Rs 2,000 rupee notes contrasted the response provided by the Finance Ministry to his Parliament Question on November 18, 2019.
He stated, “31st March 2017. Overall Currency in Circulation 13.10 Lakh Crores, 500/2000 Rupee notes 9.5 Lakh Crores. 31st March 2018: Total Currency in Circulation 18 Lakh Crores. 500/2000 Rupee notes 14.46 Lakh Crores-80% of Total Currency in Circulation. 31st March 2019 – Currency in Circulation 21.1 Lakh Crores. 500/2000 Re Notes 17.34 Lakh Crores. 82.2 % of Total currency in Circulation.”
Tewari stated the concern is will Rs 2,000 notes continue to be legal tender after September 30 or not.
The RBI requires to clarify that, he included.
The Rs 2,000 denomination banknote was presented in November 2016, mainly to meet the currency requirement of the economy in an expeditious way after the withdrawal of legal tender status of all Rs 500 and Rs 1,000 banknotes in blood circulation at that time.
The RBI stated it has actually likewise been observed that Rs 2,000 denomination note is not typically utilized for deals. Even more, the stock of banknotes in other denominations continues to be appropriate to meet the currency requirement of the general public.
“In view of the above, and in pursuance of the ‘Clean Note Policy’ of the Reserve Bank of India, it has actually been chosen to withdraw the Rs 2,000 denomination bank notes from blood circulation,” it stated.
