Connect with us


Demonetisation, brainchild of Modi government: RBI



New Delhi, January 10: The awe and shock of demonetisation, continues. The Shock therapy used by Prime Minister Narendra Modi on November 8 turns out to be a brainchild of the Central government. For, RBI was advised about the noteban by the Modi government on November 7, 2016, just a day ahead of final demonetisation announcement by PM, reported Indian Express on Tuesday.

The report also cites a seven-page reply submitted by RBI on December 22 to the Parliamentary Panel on finance headed by Veerappa Moily of the Congress.

Reportedly, RBI to the panel said: Government, on 7th November, 2016, advised the Reserve Bank that to mitigate the triple problems of counterfeiting, terrorist financing and black money, the Central Board of the Reserve Bank may consider withdrawal of the legal tender status of the notes in high denominations of Rs 500 and Rs 1,000.  

Read More: Government has virtually taken over RBI’s functions

Read More: Parliamentary panel questions Urjit Patel over demonetization

Earlier, Union Power Minister Piyush Goyal had said in the Rajya Sabha on November 16 that the decision of demonetisation was taken by the RBI board as it is responsible for running nation’s monetary policy.

In a reply to an RTI query filed by Indian Express, it is found that the proposal to print Rs 2000 notes was passed in May 2016 and printing for the same was started from June 2016. However, there was no discussion with RBI on the possibility of demonetisation in previous meetings of May, July or August. Only on November 7 Modi government advised the RBI for the noteban of 86 % of currency.

In its note to panel RBI also cited “urgency” within the government to scrap the old notes out of the system. The government had advised RBI to place this matter before the directors of its Central Board for consideration immediately.

Read More: RBI and govt at loggerheads over demonetisation implementation

Read More: Steve Forbes: India’s demonetisation is immoral, sickening and dreadful

The very next day RBI’s Central Board met to deliberate “government’s advice” on withdrawing the legal tender status of the Rs 500 and Rs 1,000 notes. Cutting the long story short, PM Modi announced it on the same evening.

Since November 8 Modi government and RBI has denied several RTI’s regarding currency ban, citing it as a matter of high secrecy for national concern. But it is time the secrecy surmounting the decision of demonetisation decision is made public.

RBI governor Urjit Patel is set to meet Parliamentary Panel (PAC) next week and reply why and how the decision of note-ban was taken. If the PAC is dissatisfied of the governor’s reply it can also summon PM Narendra Modi for the same.

Earlier, former prime minister Manmohan Singh had asked in the parliamentary meet if the Reserve Bank of India was given enough time to think over the demonetisation proposal. The very next day RBI had said that the decision was take in the RBI Board’s meet before the PM’s TV address to the nation.

Read More: Demonetisation: Farmers dump their produce after fall in prices 

Read More: Demonetisation: 50 mn livelihoods at risk as tourists stay away

Wefornews Bureau



Delhi HC to hear plea challenging acquittal of A Raja in 2G case




New Delhi, March 21: The High Court to hear a plea filed by the Central Bureau of Investigation (CBI) against the acquittal of former telecom minister A. Raja and others in the 2G spectrum case on Wednesday. 

Yesterday, the probe agency filed the appeal in the high court after a special CBI court in a shocking judgment in last December acquitted all the 19 accused, including A. Raja, in the Rs 30,984 crore scam.

The CBI had back then stated it would lodge a petition challenging the trial court order.

The high court after examination found strong grounds for an appeal and fixed March 21 for hearing.

Earlier, the Enforcement Directorate (ED) had on Monday filed a plea in the Delhi High Court against the same.


Continue Reading


Sushma should apologize to 39 bereaved families for ‘misleading’ them: Congress



Randeep Surjewala

New Delhi, March 20 : The Congress on Tuesday demanded that External Affairs Minister Sushma Swaraj should apologise to families of the 39 Indians, killed in Iraq, for “misleading” them and also demanded that the Narendra Modi government compensate them.

The party also accused the government of crossing all limits of “insensitivity, inhumanity, and being merciless” as well as politicising the issue.

“The 39 Indians were kidnapped in June 2014. The entire world and the neighbouring countries had confirmed that they were not alive,” said Congress spokesperson Randeep Singh Surjewala.

However, the government had however assured the country and the families seven times from 2014 till July 2017 that they were and being provided basic amenities and food, he said.

“When Indian media went to Mosul in July 2017 and reported that the Indians were not alive, Sushma Swaraj and Modi government rejected it. When an eyewitness came forward said that the ISIS have killed the Indians, they rejected it too.

“Sushma Swaraj had said when Iraqi Prime Minister comes to India, the government will confirm it from him, but didn’t do anything,” he added.

“Did the government think about the families even once, when they were desperately waiting for their dear ones for four years.

“Now they are blaming us for politicising it. 39 Indians have died, but the minister is praising the government and thanking the PM and her junior minister,” he said.

Surjewala also asked what was the need to give the statement in a hurry. “Was it not because Iraq’s Martyrs Foundation was going to hold a press conference in the afternoon today (Tuesday) and was about the reveal the truth about the killing of 39 Indians? She, therefore, gave the statement in a hurry.

“She gave the statement when the issue of no-confidence came up. Sushma Swaraj and Modi government should not have done politics with this….Unfortunately, even today they are politicising it.”

“We demand, if there is slightest of humanity left, the minister should visit all the families and apologise to them for misleading them. Modi government must also compensate the families respectfully for the long wait of four years,” he demanded.

Continue Reading


Aadhaar exposes transgenders to surveillance, harassment: SC told

Appearing for Swatantra, advocate Jayana Kothari told the court that agencies collecting demography information for Aadhaar could not insist on the disclosure of gender identity as it is covered under privacy.



Majority of transgendera

New Delhi, March 20 : The Supreme Court was told on Tuesday that the parting of personal biometric and demographic information by transgenders and sexual minorities under the Aadhaar Act exposes them to “violence, surveillance and harassment by the State and private persons”.

“Once the personal demographic details of transgenders and sexual minorities is declared, it exposes them to surveillance, violence, and discrimination including infringement of their fundamental right to life and liberty, equality, free speech and movement,” NGO Swatantra told a constitution bench.

The five-judge bench, comprising Chief Justice Dipak Misra, Justices A.K. Sikri, A.M. Khanwilkar, D.Y. Chandrachud and Ashok Bhushan, is hearing a batch of petitions including by former Karnataka High Court Judge K.S. Puttuswamy, Magsaysay awardee Shanta Sinha, feminist researcher Kalyani Sen Menon and others challenging the constitutional validity of the Aadhaar Act.

Appearing for Swatantra, advocate Jayana Kothari told the court that agencies collecting demography information for Aadhaar could not insist on the disclosure of gender identity as it is covered under privacy.

Pointing to the Supreme Court granting transgenders the legal status by recognising them as the third gender, Kothari said the compulsory disclosure of gender identity while parting with biometric and demographic information was violative of the Constitution’s Article 14.

Referring to the top court judgment upholding right to privacy as a fundamental right, Kothari said this would also include the right to informational privacy which permits individual control over the dissemination of personal information including gender identity.

Mentioning past and prevailing laws, including the Karnataka Police Act and Telangana Eunuchs Act, Kothari said “these laws continue to enable the State to target and prosecute (people from the) transgender community solely on the basis of their gender identity”.

Kothari told the court that Telangana Eunuchs Act is a “draconian colonial legislation” which empowers the State to make arrests solely on the basis of gender identity.

“A brief review of existing legislation, ongoing litigation and State action (and)prosecution confirms that wherever the State has been permitted to aggregate information about transgender community it has often led to systematic discrimination and oppression of the community in India,” Kothari said.

Continue Reading

Most Popular