Updated: November 9, 2016 12:04:45 am
Praising the government’s decision to abolishing Rs 500 and Rs 1000 notes, the Congress on Tuesday said it supports any step against black money. ANI quoted Congress leader Randeep Surjewala as saying “Congress has always supported any step against black money, and will continue to do so, and will continue to do so.”
However, the Congress leader said that decision will put a burden on those who go to market to buy necessary articles for marriages including jewellery, clothes etc. What will happen to them, asked Surjewala.
He also said that withdrawing 1000 notes and introducing 2000 notes at the same time defeats government’s own argument. “While Modi ji withdraws Rs 1000 note on one side, he introduces Rs2000 note on the other side?Does it not defeat his own argument?” said Surjewala.
In a decisive step to curb black money, Prime Minister Narendra Modi announced demonetisation of Rs 1000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.
Modi said the notes of Rs 500 and Rs 1000 “will not be legal tender from midnight tonight” and these will be “just worthless piece of paper.” However, he said that all notes in lower denomination of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins will continue to be valid.
He also announced that new notes of Rs 2000 and Rs 500 will be introduced.
ATM withdrawals will be restricted to Rs 2000 per day and withdrawals from bank accounts will be limited to Rs 10,000 a day and Rs 20,000 a week. Banks will remain closed tomorrow and ATMs will also not function tomorrow and day after, Modi said.
He expressed confidence that the staff of banks and post offices will rise to the occasion to introduce the new order within the available time.
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