Tuesday , August 21 2018

Print sufficient notes: Muttamseti Srinivas Rao urges the Union government

Anakapalle MP Muttamseti Srinivas Rao had urged the union government to print Rs 100 notes and Rs 500 notes in sufficient number so that people can have an easy access.

muttamseti Srinivas Rao, India, Andhra Pradesh, Vishakhapatnam

Visakhapatnam: Anakapalle MP Muttamseti Srinivas Rao had urged the union government to print Rs 100 notes and Rs 500 notes in sufficient number so that people can have an easy access. Talking in the Lok Sabha on the Specified Bank Notes (Cessation of Liabilities) Bill, 2017 on Tuesday, he urged the government to remove surcharges on the electronic transactions in order to encourage cashless, transparent, and accountable society.

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“We need circulation Of Rs 200 and Rs 500 notes instead of Rs 2000 notes in order to curtail black money and to provide people with sufficient small denomination notes. Remove surcharges on electronic transactions in order to encourage cashless, transparent, and accountable society, as suggested by the Chief Minister of Andhra Pradesh N. Chandrababu Naidu,” the MP said.

He further said that the government should initiate awareness campaigns to explain the purpose behind demonetization. Measures should also be taken by the banks to educate people on best practices, on how to avail better banking facilities, on e-transactions etc., while they are made to wait in queues.  The government must strive for a permanent change in the mindset of the people, and to have them cultivate an interest in card/credit transactions over cash, he said. 

“Our Chief Minister has suggested to the government to demonetize Rs 500 and Rs 1000 long back. I thank the government for accepting his suggestion. Of course, this has caused some inconvenience in the common man. The RBI has instructed all the banks to recalibrate for the issuance of new notes. Actually, the thrust was for promoting a transparent, corruption-free and a cashless economy. Demonetisation issue has caused a setback for the terrorist groups,” he said.

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