PM Modi holds meeting with senior ministers on demonetisation process

The meeting came amid continuing chaos and growing public anger across the country over limited cash availability following the surprise demonetisation of two higher value currency notes by Modi.

By: PTI | New Delhi | Updated: November 14, 2016 4:31 am
modi-759 PM Modi chairs the meeting to review the demonetisation process(ANI Photo)

Prime Minister Narendra Modi held a meeting with senior ministers past midnight on Sunday to review demonetisation and its impact. The meeting at Prime Minister’s residence was attended by 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.

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The meeting came amid continuing chaos and growing public anger across the country over limited cash availability following the surprise demonetisation of two higher value currency notes by Modi. There was little respite for cash-starved people queuing up outside banks and ATMs yesterday, with branches witnessing unprecedented rush since early morning and leading to arguments and scuffles.

Earlier in the evening, after a review by Finance ministry, the limit of old and now defunct 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 ministry said in a statement.

According to ANI reports economic affairs secretary Shaktikanta Das said, “PM Modi has reviewed the supply and availability of cash to various banks and post offices. He reviewed the entire position, after he was briefed about steps already taken to improve supply of cash.”

With ANI inputs

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  1. C
    Chander Pal
    Nov 13, 2016 at 11:48 pm
    Please also report about the Sikhs who have started 'Chai sewa' for those in lines. There should be positive reports about those who are distributing water or offering chairs to senior citizens.
    Reply
    1. S
      Seshu
      Nov 13, 2016 at 11:50 pm
      Modi bin Thuglak
      Reply
      1. E
        Eager.lickspittle
        Nov 13, 2016 at 11:55 pm
        "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 ministry said in a statement."lt;br/gt;lt;br/gt;Soon to come as per Bachelor Bagawat's Diktat:lt;br/gt;lt;br/gt;The weekly limit of 7 inter course for Brahmins with their women has been increased to Rs 21 inter course. The maximum limit of 5 inter course per day has been removed, the Bachelor Bagawat controlled Brahmin Expansion Ministry said in a statement.
        Reply
        1. S
          Satendra kumar
          Nov 13, 2016 at 11:36 pm
          Demonetisations of two higher currency notes by the central government and replacement by fresh higher notes is a paitence timeframe job.
          Reply
          1. M
            MyTake
            Nov 13, 2016 at 11:15 pm
            (The meeting came amid continuing chaos and growing public anger across the country over limited cash availability following the surprise demonetisation ...)lt;br/gt;lt;br/gt;I can hear the tone of "anger" only in I.E. Camp!!
            Reply
            1. U
              Udit
              Nov 14, 2016 at 1:39 am
              The rumor that people are suffering because of Modi's surgical strike on black money is not at all true. It's a non-brahmin conspiracy.
              Reply
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                ashok s
                Nov 14, 2016 at 12:51 am
                Many honest netizens are being effected by this move. Example builders are cancelling house deals which were in effect few days ago. For example a buyer pays cash and then he applies for bank loan. Now builders like ostwal builders in Mira road is asking them to collect the cash back ,now this poor buyer who has made his white money into black is suffering . please can pm provide him some relief
                Reply
                1. B
                  Barb Dewyre
                  Nov 14, 2016 at 1:51 am
                  Modi wanted to know for how long he as to shed tears and make emotional speeches.
                  Reply
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