After limiting exchange of defunct currency notes to a maximum of Rs 2,000, the Modi government may withdraw the facility graduallyAfter limiting exchange of defunct currency notes to a maximum of Rs 2,000, the government may withdraw the facility gradually and instead ask holders of such currency to deposit in their bank accounts. The exchange facility is available only once during this period. According to sources, the government had allowed exchange facility in the beginning to ensure liquidity remains in the market. As and when the remaining is achieved, the exchange facility could be phased out," an official said. The exchange facility, according to officials, was being misused by some to exchange their black money.

Source: dna November 18, 2016 16:45 UTC