Demonetization India: Demonetization has brought umpteen hassle for the major chunk of the population as the ATMs and the banks have been falling short of the money, due to which the people are unable to exchange the old currency for new Rs 2000 notes or Rs 100 notes.
Demonetization India – Time taken to transport new currency reduced from 21 days to 6 days
The government has now speeded up the process of transporting the new currency to the banks to avoid the hassle caused to the people. Earlier, the Modi government had also announced that the ATMs will be re-calibrated to enable them for dispensing the new Rs 500 and Rs 2000 notes. Till now over 50000 ATMs have already been re-calibrated.
And now, to transport the new currency to the banks as soon as possible, the GOI will be taking help from the Indian Air Force. It is expected that with the help of helicopters of the Indian Air Force, the transportation time will be reduced from 21 days to 6 days.
“RBI may transfer higher dividend or there could be a special dividend…Even in 1978 when the government resorted to demonetization, 20% of the notes did not come back”, said the senior officials. Also adding, “The SME sector will benefit as the banks will lend more”.
The officials further added that the estimated date for the economy operations to fall back to normal is January 15 and the surplus or the gains accruing will be used for the re-capitalisation of the banks, for the purchase of weapons in the defense sector and building infrastructure.
