Slamming the Narendra Modi government over sliding economic growth and increasing job losses, former Union minister Arun Shourie has likened demonetisation to suicide, saying the latter is too "a bold step". He also called the Modi government as "government of twoand-a-half persons".
"This is a government by `ilhaam' (revelation). The PM has the `ilhaam' one night that demonetisation should be done and he does it. In any case it was a bold step. I have to remind you suicide too is a bold step," Shourie said in an interview with NDTV when asked why in his view the government went in for demonetisation. He said, "It was the largest money-laundering scheme ever, conceived and implemented by the government." It was an "idiotic jolt", he said, "every one who had black converted it into white".
Farmers in Madhya Pradesh's Sheopur district received what were apparently fake ₹2,000 currency notes from the local State Bank of India branch.
The portrait of Mahatma Gandhi was missing in the notes and, when the befuddled farmers approached bank officials, they were told that the notes were "genuine". Fortunately for them, the bank, however, replaced the notes.
Restrictions on withdrawal of cash from banks and ATMs are likely to continue beyond December 30 as currency printing presses and RBI have not been able to keep pace with the demand of new currency notes.
As the 50-day deadline for completion of demonetisation process draws near, there is a growing consensus among bankers that the restrictions on withdrawal would have to continue even in the New Year so as to maintain orderly working at the banks.