Latest developments on notes ban, PM Modi gets Emotional

Latest developments on notes ban, PM Narendra Modi gets EmotionalLatest developments on notes ban, PM Narendra Modi gets Emotional

Prime Minister Narendra Modi met this morning with MPs from his party.  PM Modi got emotional and said demonetization was taken “to help the poor.”

  • PM Modi stressed that note ban will end black money, corruption and money-laundering.
  • He urged his party’s lawmakers that the opposition is “spreading misinformation” and asked them to inform the public about the many benefits of the reform.
  • BJP parliamentary party passes unanimous resolution congratulating PM for his “great crusade” against black money.
  • While 11 opposition parties led by the Congress met to discuss their strategy against the government on the notes ban.
  • The winter session of the parliament is stalled.
  • The opposition says PM Modi must explain his move in the Rajya Sabha, where the government is in a minority. In the Lok Sabha, they are seeking a debate followed by a vote.
  • Finance Minister Arun Jaitley is ready to answer the opposition’s questions in Rajya Sabha. Mr Jaitley says the refusal of the opposition to allow that proves it does not really want to engage on the initiative.
  • West Bengal Chief Minister Mamata Banerjee has said she will lead a protest in the capital today. Delhi’s Deputy Chief Minister Manish Sisodia too plans to lead his Aam Aadmi Party in a march to parliament.
  • The Opposition is also now discussing a bandh or shutdown across the country to protest against the hardship caused in villages and to common people by the cash crunch after note ban.
  • In view of cash crunch being faced by borrowers, the RBI has provided additional 60 days for repayment of housing, car, farm and other loans worth up to Rs 1 crore.

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