Today marks the first anniversary of Indian banknote demonetisation. On 8th November 2016 at 8 pm, Prime Minister Narendra Modi addressed the nation and announced ban on Rs 1000 and Rs 500 currency notes.
It is effort to crack down on black money and shift India towards a less-cash economy. Today seems to be action packed day as the Government celebrates today as ‘Anti-Black Money Day’ while Congress and other oppositions marks as Black Day.
PM Modi posted some early morning tweets. He dedicated this day to every Indian. He posted,
“I bow to the people of India for steadfastly supporting the several measures taken by the Government to eradicate corruption and black money… 125 crore Indians fought a decisive battle and won.”
From the next day of demonetisation, bankers’ job turned into 24×7. People could not clearly understand what to do or how to do. Bankers did their job with skipping their meals and even sleep, confusing rules and immense pressure from the upper level.
IT minister Ravi Shankar Prasad said, “There’s a difference between job and employment, Only those who were not able to enhance their skills with time lost their naukri.”
Congress President Rahul Gandhi tweeted,
“Demonetisation is a tragedy. We stand with millions of honest Indians, whose lives & livelihoods were destroyed by PM’s thoughtless act,”
The RBI’s Annual Report 2016-17 published on August 30, showed that out of Rs 15.44 lakh crore worth of banned notes, Rs 15.28 lakh crore or 99 per cent of them have come back to the banks — destroying all the claims of a windfall for RBI through extinguished liability on the account of non-deposited notes.
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