CM Fadnavis to meet Arun Jaitley, demand withdrawal of money deposit ban on DCCBs

The Reserve Bank of India has disallowed depositing of old Rs 500 and Rs 1,000-notes in DCCBs, over fears that these bank accounts could be used to park unaccounted money.

Written by Shubhangi Khapre | Mumbai | Published: December 8, 2016 1:35 am
Fadnavis, devendra Fadnavis, Cm fadnavis, arun jaitley, DCCB, money withdrawal, withdrawal limit, deposit limit, indian express news, mumbai, mumbai news, india news Maharashtra CM Devendra Fadnavis. (File Photo)

Chief Minister Devendra Fadnavis Thursday will lead a delegation of state political parties to Delhi to meet Union Finance Minister Arun Jaitley and demand withdrawal of the ban on depositing demonetised currency notes in District Central Cooperative Banks (DCCBs).

The Reserve Bank of India has disallowed depositing of old Rs 500 and Rs 1,000-notes in DCCBs, over fears that these bank accounts could be used to park unaccounted money. Maharashtra, which has one of the most widespread networks of these banks in India, has seen protests from bank officials and political parties over the move, mounting pressure on the state government to intervene.

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Fadnavis’s Thursday delegation will comprise Leader Of Opposition from the Legislative Assembly Radhakrishna Vikhe-Patil, opposition leader in the Legislative Council Dhananjay Munde and others.

Last fortnight, Fadnavis had apprised the PMO and the FM of the concerns raised by state leaders about the DCCBs. The issue has also been highlighted in the state assembly, with former chief minister Prithviraj Chavan and former deputy chief minister Ajit Pawar questioning the Centre’s decision.

“A massive Rs 62 lakh cash was recovered from the house of Arun Jaitley. Now, when the Centre is talking of cashless transactions, what was the cash doing in the finance minister’s residence?”, Chavan said in the Assembly. He also demanded demonetisation of Rs 2,000 notes and said, “The Centre should bring in Rs 200-rupee notes.”

Referring to former governor Raghuram Rajan, Chavan said, “I believe the former RBI governor had not given his consent to demonetisation.”

Pawar slammed the government for its failure to comprehend the hardships of people in rural Maharashtra. “The adhoc decision on DCCBs has crippled the rural economy. The DCCBs have banking licences, and to suspect their operations is highly demeaning,” Pawar said.

Leaders from Shiv Sena and PWP too expressed serious concerns about the ‘ill-preparedness of the government’ in implementing the demonetisation move across the country.

shubhangi.khapre@expressindia.com

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