PM Modi asks for time.
"By turning 500, 1000 notes into worthless paper, I have removed economic disparity. I am trying my best to do whatever I can to lessen your difficulties," PM Modi told a large gathering in Uttar Pradesh today, adding that he was only asking for 50 days to make the country clean.
New measures by the government.
The government will install new micro cash machines across the country and has asked banks to waive off transaction charges on debit and credit cards, said Economic Affairs Secretary Shaktikanta.
You should use Paytm than ATM.
Standing in queues at banks and ATMs have become routine for millions rushing to replace notes or withdraw valid currency.
The Reserve Bank of India has urged people to not withdraw cash repeatedly and hoard it. The deadline is December 30.
The urban India is relying on e-wallets like Paytm and Freecharge.
The Reserve Bank of India has urged people to not withdraw cash repeatedly and hoard it. The deadline is December 30.
The urban India is relying on e-wallets like Paytm and Freecharge.
Withdrawal limit of 'current accounts' raised to Rs 50,000 per week
Das also said the government would also raise the cash withdrawal limit of at least three-month old current accounts to Rs 50,000 per week and said cash machines would start dispensing new 2,000 rupee notes within two days.
Opposition is fuelling the rage.
Opposition parties have spoken against the demonetization, with Congress and Arvind Kejriwal accusing PM Modi of leaving ordinary people in the mud. Mamata Banerjee's Trinamool will meet the Congress and other parties today before parliament's winter session.
INR 500 and INR 1,000 notes can be used for key utility payments till Nov 24
The government has extended the use of old defunct Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees and purchases from co-operative stores till November 24.
Cash deposits have increased like never before.
Banks have received 3 trillion rupees ($44.4 billion) in deposits in the first four days since the currency ban, the Finance Ministry announced on Sunday.
Move to fight corruption.
On Sunday, PM Modi had said the nation had elected him to fight corruption and he was ready. "I know the forces up against me, they may not let me live... they may ruin me because their loot of 70 years is in trouble, but I am prepared," he said in an emotional speech.
New 500 notes launched yesterday.
The government has raised the daily limit of withdrawal from ATMs from Rs. 2,000 to Rs. 2,500 and exchange limit at banks from Rs. 4,000 to Rs. 4,500.
Banks have also been asked to raise the weekly withdrawal limit to Rs. 24,000.
Banks have also been asked to raise the weekly withdrawal limit to Rs. 24,000.