Prospects of Rs. 2000 currency notes declared as invalid before 31st March
Posted on: 25/Jan/2017 6:26:37 PM
Mr Thomas Franco, the President of the All India State Bank of India Officers Association, informed that there are good prospects of the new Rs. 2000 currency notes being declared as invalid before 31st March.
He explained the public have been put to extreme hardships since the government’s stand on encouraging cashless financial transactions and the demonetization effect.
Only the Corporate Organisations and the Private Banks benefit by this action.
The central government has taken a decision as per the reports submitted by the private consulting company Boston. It is to be noted that most wealthy people have known in advance about the demonetization. As the Prime Minister Narendra Modi explained that this is no secret or there is no control over this.
Around 25 percent of the small-scale entrepreneurs have lost their jobs. The central government is now struggling after all wrong decisions.
It is worth noting that for every transaction done through credit cards, the banks will have to pay 48 Paise per transaction to the 3 credit card agencies including Visa.
The prevailing system for no charges for credit card usage cannot be permanent. This will be withdrawn in a few months and the bank will resume charging for credit card usage.
The defence industry Unions throughout India have planned to organise a human chain protesting against the current demonetization policy being pursued by the central government.
There are prospects that the new Rs. 2000 currency notes may be declared as invalid before 31st March.
He informed that the autonomy of the Reserve Bank of India has completely disappeared.
