Demonetisation horror for govt in Parliament to continue as queues get longer at banks

Written By:
Subscribe to Oneindia News

New Delhi, Dec 14: The union government is bracing up for a tough session in Parliament. Shortage of cash continues to be a debating point in Parliament. Despite the Prime Minister seeking 50 days time to tide over the crisis that has erupted post demonetisation, the opposition is not convinced and continues to train its guns in Parliament.

banks

The fact of the matter is that there is a crisis on the streets. There is no respite from the long queues outside the banks. The problem being reported by the banks is that there is a huge demand and supply mismatch.

Banks were closed for three days. The struggle to move cash to the banks after a three day break was clear. Most ATMs continued to run dry and people were seen returning disheartened.

Banks say that apart from the pressure due to the three day break, the bigger issue is with the lack of Rs 500 notes. The demand-supply mismatch is huge. Banks have Rs 2,000 notes but hardly any Rs 500 notes. Banks say that the problem will not be solved anytime soon. Unless the lower denomination currencies come into the market, the crisis will continue.

On the other hand former union minister, P Chidambaram has sought for an investigation. He wants the minutes of the November 8 RBI board meeting to be made public. Rahul Gandhi too stepped up the heat and termed the demonetisation decision as a war against the poor. The Congress would be meeting later today to plan out its strategy on how to take on the government on the demonetisation issue.

OneIndia News

Please Wait while comments are loading...