Demonetisation necessary step to address corruption: US

Discontinuance of the 500 and 1,000 rupee notes State Department Deputy Spokesman Mark Toner said is designed to target illicit cash proceeds from corruption and tax dodging.

By: PTI | Washington | Updated: December 1, 2016 1:53 pm
demonetisation india, demonetisation, demonetisation black money, black money, corruption, us india, india news “We believe, an important and necessary step to crack down on this – illegal actions or illicit actions,” State Department Deputy Spokesman Mark Toner said. (Source: File)

The US on Thursday supported India’s move of demonetising Rs 500 and Rs 1000 currency notes, saying that it was an “important” and “necessary” step to address corruption. “We believe, an important and necessary step to crack down on this – illegal actions or illicit actions,” State Department Deputy Spokesman Mark Toner said. “American citizens who are working and living in India, I think have the proper information now to exchange those notes or to get new notes, and it’s a little bit of an adjustment, just as it was an inconvenience, I’m sure, for many Indians, but I think a necessary one to address corruption,” Toner said in response to a question.

WATCH VIDEO: Petrol Pumps, Air Ticket Counters Will Not Accept Old Rs 500 Notes After December 2

Discontinuance of the 500 and 1,000 rupee notes he said is designed to target illicit cash proceeds from corruption and tax dodging.

“With respect to your question about the impact on American citizens, we got this question I think the day that this was announced,” he said. “Indeed, as it was an inconvenience for many Indians, it was an inconvenience for Americans who were also there, and we actually put out a statement through our US embassy to American citizens in India about the changes,” Toner said.

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First Published on: December 1, 2016 1:14 pm
  1. K
    Kds
    Dec 1, 2016 at 9:49 am
    Looks like the burnt is still on among hand few ppl.who have lost lots of unaccounted money due to demonetisation.if Modi is dictator,then what about Pappu,Khujliwal,Mamta,Lalu,Mayabati,Mulayam......to name a few.Are they all great leaders shredding crocodil's tears for common man???
    Reply
    1. A
      Arjun
      Dec 1, 2016 at 9:15 am
      If demonetisation is a necessary step, then why doesnt US undertake it? Why doesnt US completely go cashless just like sweden? Americans are bunch of liars. They want to squeeze max profit using dictator modi.
      Reply
      1. A
        Arjun
        Dec 1, 2016 at 9:12 am
        Ya whynot, first arrest crooked hillary and cross check trump's conflict of intetest and then speak of india
        Reply
        1. R
          Raj Dhulia
          Dec 1, 2016 at 8:23 am
          Surely US based MNCs will gain huge benefits by this silly idea of going cashless.
          Reply
          1. A
            arvind
            Dec 1, 2016 at 12:12 pm
            what kind of headlines is this, How can a country tell this.. it should be some people or US govt.. anyways , this demonetisation is the worst step taken by the govt. 70 deaths and counting.
            Reply
            1. A
              ashok s
              Dec 1, 2016 at 10:55 am
              American s don't need to interfere in our internal matters
              Reply
              1. A
                ashok s
                Dec 1, 2016 at 11:37 am
                USA wants it multi b retail in India. First bhj was against but our foreign babaji compromise dd
                Reply
                1. B
                  Balasubramanya
                  Dec 1, 2016 at 9:15 am
                  Show this article to Kujlee and Didi so that they can learn something from America.
                  Reply
                  1. B
                    baba ramdev
                    Dec 1, 2016 at 10:50 am
                    Can someone probe modi's links to bribes taken from birla foundation ?
                    Reply
                    1. B
                      baba ramdev
                      Dec 1, 2016 at 11:06 am
                      Did US support us in liberation war of 1971, did they help us to be a nuclear weapon capable country? Did they help us in economic crisis of 1991? Ans is a big no. India hadto stand up on its own. All decisions america takes is in its own interests and nothing else. So going by US statements, i guess modi has promised indian drain of wealth to america. Land acquisition bill failed, so modi used demonetisation and bjp is now on a land buying spree across india. Either way, they will sell it to US compaanies at higher rates.
                      Reply
                      1. B
                        baba ramdev
                        Dec 1, 2016 at 10:51 am
                        Kejriwal exposed modi big time
                        Reply
                        1. B
                          baba ramdev
                          Dec 1, 2016 at 10:48 am
                          Looks like our tughlaq modi has paid enough bribes using adani to US mncs to remain in power. Thats why even a foreign govt is coming to rescue him. People of india have already decided to not vote for him.
                          Reply
                          1. B
                            baba ramdev
                            Dec 1, 2016 at 10:49 am
                            Unaccounted money lost? No way , it is transferred to amit shah and modi themselves
                            Reply
                            1. J
                              James
                              Dec 1, 2016 at 9:48 am
                              Each time you make a an online transaction ,you are paying 2 % to a foreign company.Plus the possibility of getting hacked or your mobile stolen.Is that enough reason for sticking with cash
                              Reply
                              1. V
                                Varthy
                                Dec 1, 2016 at 8:38 pm
                                When America questioned about Religious intolerance, we asked them to mind their own business. When they say that demonetization is good move, we welcome it. Wow what a selective mindset we carry. if you accept the later then accept the former.
                                Reply
                                1. H
                                  Harminder Singh
                                  Dec 1, 2016 at 10:50 am
                                  Americans have a shadow economy of 11/13% of their trillions of dollars economy India had around 20% which with even all efforts will be back if not already there.Why don't the yanks ban the 100$ bills etc?there'll be riots ,and what a President with 75 pending court cases so it'll be better of if these Yahoo's clean up their mess first
                                  Reply
                                  1. A
                                    ajay
                                    Dec 1, 2016 at 9:46 am
                                    Sir will be interested to know how US MNC will gain huge benefits from the idea of going cashless . Please explain in few lines if you don't want to write big response , waiting for your response .
                                    Reply
                                    1. A
                                      ajay
                                      Dec 1, 2016 at 9:44 am
                                      What is the problem in going 90% cash society to 90% cashless society .you tell me what is loss in doing so ?
                                      Reply
                                      1. S
                                        sai ansh
                                        Dec 1, 2016 at 12:12 pm
                                        The quicker, the better. More jobs, better tech, lower wastage through more efficient logistics. A big plus for the economy. Govt should expedite.
                                        Reply
                                        1. B
                                          Bharatvasi
                                          Dec 1, 2016 at 12:16 pm
                                          So India needs a certficate from USA! Wah! Wah
                                          Reply
                                          1. G
                                            gopal
                                            Dec 1, 2016 at 8:20 am
                                            Is Modi sarkar controlled by USA
                                            Reply
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