New Delhi, Nov 12: It will take at least three weeks to recalibrate ATMs according to the new Rs 500 and Rs 2,000 currency notes, Arun Jaitley, Union Finance Minister informed. The finance ministry is constantly monitoring the currency exchange, Jaitley told a crowded press conference after meeting with senior government and RBI officials.
Reactions to this entire process from the opposition has been very disappointing Jaitley said reacting to the roll back on the currency ban that was being sought. Some statements have been irresponsible, he also added.
While countering the allegations made by Delhi Chief Minister, Arvind Kejriwal, the finance minister said that increase in bank deposits over the last one year has been due to pay commission arrears. He said that Kejriwal's statement that the BJP had already alerted its friends about the demonitisation were baseless.
He said that measures have been taken by then government to tackle the problem. He further added that the government has extended the use of old Rs 500 and Rs 1,000 notes for utility bills till November 14.
On November 8, Prime Minister Narendra Modi had announced demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.