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Udupi, currency withdrawal causes problems

Udupi, currency withdrawal causes problems


Mangalore Today News Network

Udupi, Nov 10, 2016: It is reported that the government’s move to withdraw currency notes of Rs. 500 and Rs. 1,000 denomination created some amount of confusion on Nov 8,Tuesday night as some people went to withdraw money as the ATMs were to be shut down for two days.


	currency


On Nov 9, Wednesday, some tried to pass off the currency notes of Rs. 500 and Rs. 1,000 denomination at petrol bunks. While some petrol bunk operators accepted them, later some of them said that they could not do so as they ran out of change. But they offered to sell petrol or diesel for Rs. 500 and Rs. 1,000. At the markets, some shopkeepers refused to accept the currency notes.

Meanwhile, in a press release issued here, Balakrishna Shetty, secretary of the district unit of the Communist Party of India (Marxist), said that demonetisation would hit the common hard as they were least prepared for it. The Union government was portraying it as a move to curb black money and weeding out fake currency notes.

But the fact was that most black money was deposited outside the country. There was no guarantee that black-marketeers would not print fake currency notes of the new Rs. 500 and Rs. 2,000, which the government intended to introduce, he said.


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Comments on this Article
Mohammed K Ansari, Uppinangady Thu, November-10-2016, 12:19
The black money will be able to be curbed by the Government ,but the small savings of the people will not have any effect .There is no need to worry
Ravish Pinto, Ullal Wed, November-9-2016, 11:17
The fact is true that internationally no control on currency . Its only in our country.
Jayapakash S, mangaluru Wed, November-9-2016, 11:13
This has created tension to those who deal with black money and not to one who pay the It on time and maintain accounts .
Adhitya Rao, Udupi Wed, November-9-2016, 11:10
As people were not satisfied with Mod’s rule is now stunned at his money rule. For some days there will some be a problem . The situation will come t normal in some days
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