Frequent Rule Change For People's Benefit: PM Modi On Notes Ban In Mann Ki Baat -
Frequent Rule Change For People's Benefit: PM Modi On Notes Ban In Mann Ki Baat
Posted 25 Dec 2016 04:23 PM

Prime Minister Narendra Modi today said the frequent changes in rules that have been made following the currency ban were being questioned, but they were being made for the betterment of the people.

"Those who can't come out openly in support of black money are trying to find fault with the government," PM Modi said. "One thing that they say that there have been far too many changes. I want to tell the people that it is not east to fight a 70-year-old corrupt system. As hoarders try to find out loophole in the system, we have to be two steps ahead of them. "

Last week, Congress vice president Rahul Gandhi had made a jibe at PM Modi over the Reserve Bank's latest rule on notes ban - the 52nd since November 8 -- saying the RBI "changes rules like Modiji changes clothes".

Another senior Congress leader, P Chidambaram, posted a series of tweets, saying, in a series of tweets: "RBI makes new rule on deposit...FM contradicts... Who should the citizen believe? ...Neither has credibility."

After the government banned 500 and 1,000 rupee notes on November 8, it said people could deposit the old notes in bank accounts till December 30. No limit was placed on the number of notes or the amount of banned currency that could be deposited. But December 17, the RBI had issued a gazette notification putting restrictions on deposits.

Congratulating the people for bearing the difficulties following the ban on high denomination currency with fortitude, PM Modi today said, "I salute our people for their support and strength to curb the menace of corruption". The operators of black money, he added, were being caught by the participation of the people.

The people, he said had faced hardships and inconvenience but "answered back those who publicly tried to mislead them".

The move to recall 86 per cent of the total currency in circulation was ostensibly aimed at to curb corruption and black money in the country. But in the days since, block-long queues had formed outside banks and ATMs as people gathered to withdraw or deposit cash.

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