₹1,000 note won’t come back anytime soon: Das
The government has no plans to reintroduce ₹1,000 notes, economic affairs secretary Shaktikanta Das said on Wednesday, over three months after the decision was taken to scrap ₹500 and ₹1,000 banknotes to aid the fight against black money, corruption and terror funding.
Das tweeted: “No plans to introduce ₹1000 notes. Focus is on production and supply of ₹500 and lower denomination notes”.
There was speculation that the ₹1,000 note could make a comeback as consumers say they continue to face problems in carrying out transaction with the new ₹2,000 note.
Following reports that cash crunch at ATMs have resurfaced, Das urged Indians that they should withdraw only the money “they require”.
“Complaints of cash out in ATMs being addressed. Request everyone to draw the cash they actually require. Overdrawal by some deprives others,” he said in another tweet.
Das brushed aside claims of cash shortage and said in a tweet: “Enough cash available. Logistics issues of reloading ATMs more frequently being addressed.”
Last week, finance minister Arun Jaitley said the Reserve Bank was monitoring the cash supply on a daily basis.
The government’s demonetisation drive that sucked out 86% of the currency in circulation led to a severe cash crunch.
Following the note ban, the government and the RBI had placed several restrictions on withdrawing money from banks and ATMs, which have been gradually relaxed. Currently, one-time withdrawal of ₹50,000 is allowed from ATMs, and from March 1, all restrictions on withdrawals will be removed, RBI has announced.
“There could be a gap in refilling ATMs after banking hours. But I don’t think that there is any shortage of cash,” said a banking department official, who did not wish to be named.
She added that banks have adequate supply of cash to deal with the demand. vage the warship as it does not have a crane big enough to lift a ship of Betwa’s size.
The contract was awarded to the Indian arm of US-based Resolve Marine Group to bring the ship to level position, paving the way for its refit to continue at Duncan/Hughes dock in Mumbai.
A board of inquiry to ascertain
Amnesty International on Wednesday criticised the Indian government for using the “crude, colonial-era” sedition law to “silence” its critics.
In its annual human rights report, the UK-based NGO said, “Human rights activists and journalists (in India) faced intimidation and attacks from both state and non-state actors.”
The report mentioned a crackdown on civil society organisations with the Foreign Contribution (Regulation) Act or FCRA being repeatedly invoked to “harass organisations that receive foreign funding”.
“The crude, colonial-era sedition law was unleashed to silence government critics,” it added.
“Caste-based violence and vigilante cow protection groups harassing and attacking people in states, including Gujarat, Haryana, Madhya Pradesh and Karnataka, in the name of upholding laws prohibiting the killing of cows were also highlighted as areas of concern,” it said.
“Tensions between India and Pakistan intensified following an attack by gunmen on an army base in Uri, Jammu and Kashmir. J&K state witnessed months of curfew and a range of human rights violations by authorities,” the report claimed.
The report also highlighted the consequences of the Indian government’s move to ban large currency notes.
“A ban on India’s largest currency bills, intended as a crackdown on the country’s black market, severely affected the livelihoods of millions,” it said.
On a global level, the report covering 159 countries condemns the growth of “politics of demonisation” which was breeding division and fear around the world.
Salil Shetty, secretary-general of Amnesty International, said, “Today’s politics of demonisation shamelessly peddles a dangerous idea that some people are less human than others... Divisive fear-mongering has become a dangerous force in world affairs.”
Amnesty International has warned that 2017 will see the ongoing global crises exacerbated by a debilitating absence of human rights leadership on a chaotic world stage.
THE REPORT ALSO HIGHLIGHTED THE CONSEQUENCES OF THE INDIAN GOVERNMENT’S MOVE TO BAN LARGE CURRENCY NOTES
what went wrong has been completed and is being examined by the Mumbai-based Western Naval Command.
The investigation was headed by Rear Admiral Deepak Bali, flag officer offshore defence advisory group.
The 126-metre vessel tipped over while it was being undocked and its mast hit the ground.