“Modi government has now been proved to be a government of trial and error, instead of facilitating the people of India. Surjewala asserted that the latest decision by the Centre of completely stopping exchange of notes was nothing short of utopian. According to the Ministry of Finance, Rs 1,000 notes would no longer be allowed to be used for the list of exemptions the government had announced. “It has been observed that over-the-counter exchange of the old currency notes of Rs 500 and Rs 1,000 denomination has shown a declining trend. It has further been felt that people may be encouraged and facilitated to deposit their old Rs 500 and Rs 1,000 notes in their bank accounts,” the Ministry said in a statement.

Source: Hindustan Times November 25, 2016 05:16 UTC