New actions to solve problems because of Demonetization
After effects of Demonetization can be seen even after 15 days of declaring old agencies invalid.
People all over India and even some from Pakistan who went there for celebrating Guru Nanak Birthday, have been complaining about the problems they have been facing. Number of effects and controversies surfaced after demonetization of Indian currency by Prime Minister Modi.
Now Finance department has come up with some measures in order to ease the pressure on common man. They are as following :
1. Extra cash is being provided to District cooperative banks to provide loan to farmers for crops. As per the latest information available total amount to the extent of 21000 crores have been allotted to these banks to help farmers who are waiting for new seeds and fertilizers for the next crop of the season.
2. Transaction charges on debit card have been taken back, so that farmers and other small users can use there money in banks without thinking about the charges that they may have to pay.
3. Similarly transaction charges on phone banking have also being taken back for the time being. Idea is people should start using emoney without any hesitation and on the same time cash crunches can be taken care of.
4. Service charge on railway booking has also being rolled back. But this facility is available till 31st of December 2016 only. So no service charge on railway booking means, cheaper tickets.
5. In another development evault services like Paytm can now take upto 20000 INR of emoney , earlier limit was just 10000 INR only.
As per people’s expectations of changing old currency notes after 24 December , this issue is still pending as no decision is taken so far on this. Government may extend this limit but it is not sure for now. Old currency notes specially unaccounted one’s are being found in the different parts of the country. There have been reports of looting old currency notes too. Most recent case in this was from Punjab, where post office was looted in Tarntaran in broad day light.