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Govt forms panel to assess status of demonetisation drive

Currently reading: Govt forms panel to assess status of demonetisation drive
India TV Business Desk, New Delhi [Updated:22 Nov 2016, 11:15:38]

The government has constituted a committee comprising Additional Secretaries, Joint Secretaries and Directors to know the status of implementation of its recent decision to scrap Rs 500 and 1,000 notes.

In a release, Finance Ministry on Monday said that the committee will visit the states and union territories and submit its report by 25th of this month. 

Each of the officers will visit different areas of the state and UTs separately and the focus will be on the rural areas, it added.

The committee will submit a report on the general outlook and challenges arising out of implementation of the scheme. The team will also check the currency availability across the state in the network of bank branches, ATMs and post offices.

It will see the facilities at bank branches and post offices for deposit, withdrawal and exchange of currency, the Ministry said.

Besides, it will check the impact of the decision on various segments including households, agriculturists, wage earners, traders, transportation, industries, informal sectors and small business.

Meanwhile, on the 14th day today since demonetisation, the queues witnessed outside banks and ATMs were shorter in the megapolis in the wake of certain restrictions on money exchange norms by the Centre. 

 

On November 8, Prime Minister Narendra Modi had announced the decision to demonetise Rs 500 and Rs 1,000 currency notes to fight blackmoney.

 

People stand in queue out a bank in New Delhi - India Tv
People stand in queue out a bank in New Delhi