Modi’s meeting with senior ministers on demonitization

Due to continued chaos and growing public anger across the country because of limited cash availability, Prime Minister Narendra Modi held a meeting past midnight on Monday to review demonetization and its impact. Home Minister Rajnath Singh, Finance Minister Arun Jaitley, I&B Minister Venkaiah Naidu, Power, Coal and Mines Minister Piyush Goyal and top officials of the Finance ministry were present at the meeting held at Prime minister’s place.

Some important decisions on cash withdrawal and the use of old Rs. 500-1000 notes were taken. They are as follows-

  • The limit of old Rs 500 and Rs 1000 rupee notes that can be exchanged for freshly minted Rs 2000 and new Rs 500 notes was increased from Rs 4000 to Rs 4500 per day.
  • Cash withdrawal limit at ATMs was hiked to Rs 2,500 from Rs 2,000 a day.
  • The weekly limit of Rs 20,000 for withdrawal from bank counters has been increased to Rs 24,000.
  • The maximum limit of Rs 10,000 per day on such withdrawals has been removed.
  • The date for use of old Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees and purchases from co-operative stores is extendes till November 24′ 2016.

Prime Minister Narendra Modi is trying his best to help the people of the nation in the best possible way. Let’s cooperate till December 31′ 2016 with him and help him in making the demonetization scheme a success. 

Featured Image Courtesy: NDTV

 

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