ATM withdrawal limit raised to Rs 10K a day; weekly limit stays at 24K

January 16, 2017

New Delhi, Jan 16: Starting tomorrow, you can pull out 10,000 per day from an ATM, though a weekly limit of 24,000 per bank account remains unchanged. The RBI has increased the daily limit for ATM withdrawals from Rs. 4,500 which has been in place for a few weeks now. From current accounts, the amount that can be collected each week has been doubled to a lakh.

atmLimits of access to cash were declared on November 8 when Prime Minister Narendra Modi made the shock announcement that 500- and 1,000- rupee notes would be illegal just a few hours later. The demonetisation drive, he said, would check tax evasion, corruption and counterfeiting.

A huge cash crunch followed, driving millions of Indians into long lines at banks, and the PM in an emotional speech asked for "just 50 days" till December 30 to resolve problems. After the new year, the scarcity of notes has eased up, though the opposition has said the government has defaulted on its PM because cash restrictions remain in place and, according to most estimates, virtually all the banned notes have been deposited in banks, meaning that black money has not been destroyed or forced out.

Finance Minister Arun Jaitley has pointed to improved tax collections to dismiss reports of economic disruption after the notes ban.

The shock decision on abolishing high-denomination notes prompted most private economists to slash growth forecasts to 6.3-6.4 per cent for the fiscal year 2016/17 from over 7.5 per cent, citing the impact of the demonetisation, which they said would linger for one more year, but the government has called those concerns unfounded.

The Finance Ministry's Statistics Office has predicted strong economic growth in the current fiscal year that ends in March. Gross Domestic Product is estimated to expand by an annual 7.1 per cent in the current fiscal year, slower than a provisional growth of 7.6 per cent in 2015/16. But the forecast does not fully take into account the impact of the notes ban.

On Friday, Urjit Patel, the Governor of the Reserve Bank of India, has been summoned by a parliamentary committee to explain how the demonetisation decision was taken as also to outline its impact. In a written answer ahead of his appearance, the central bank has stated that it was the government which "advised" that 500 and 1,000-rupee notes be removed from circulation, which was then cleared by the RBI the next day.

The PM announced demonetisation just 24 hours after that.

The RBI has been criticised for following the government's lead on a landmark decision on currency and for taking a backseat in the days that followed, with Mr Patel missing from briefings that made important announcements on issues like cash limits.

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Think Tank
 - 
Monday, 16 Jan 2017

Ee modi yavaginda PM Agidana....andininda panmathi shuru

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News Network
March 7,2020

Mysuru, Mar 7: Former minister and senior Congress leader and sitting MLA Tanveer Sait has shot off a letter to state Home Minister Basavaraj Bommai expressing his dissatisfaction over the slow progress in the investigations regarding the attack on him.

In the letter, which he released to the press on Saturday, he claimed that although the police have already arrested the culprit, but it is yet to find the real masterminds, leaders or organisation behind the attack.

Mr Sait urged the Home Minister to request the police to speed up their investigation and solve the case at the earliest and give him justice.

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News Network
June 10,2020

Bengaluru, Jun 10: Janata Dal-Secular (JD-S) supremo and former Prime Minister H.D. Deve Gowda said on Tuesday that he filed his nomination for the June 19 Rajya Sabha elections from Karnataka in response to a collective call from national leaders to be back in the Parliament.

"Though I was not personally interested to contest, national leaders from Congress President Sonia Gandhi, National Conference President Farooq Abdullah, TMC and Left parties want me back in Parliament," he told reporters here.

Gowda, 87, filed his nomination in the Vidhana Soudha, submitting the papers to Assembly Secretary and Returning Officer M.K. Vishalakshi, a party official told IANS.

Gowda''s second son and former minister H.D. Revanna and third son and former Chief Minister H.D. Kumaraswamy were present on the occasion.

"Our party''s all 34 legislators also urged me to contest as my presence is necessary in Parliament at a time when the country was grappling with multiple crises in the aftermath of coronavirus," said Gowda.

Claiming that there was no pressure from his two sons as they are more concerned with his health, Gowda said he was touched by the requests of the national leaders, especially Gandhi who personally called him and asked him to contest as the country needed his presence in Parliament.

Gowda agreed to contest in the bypoll as his party''s candidate after the Congress state unit assured him of its support with its surplus votes, as the JD-S with 34 legislators is short of 10 votes of the required 44 votes.

It will be second time Gowda will enter the Rajya Sabha, 24 years after he was its member as the Prime Minster from June 1996 to April 1997 of the United Front government.

"Congress General Secretary K.C. Venugopal informed Kumaraswamy on June 6 that the party was fielding only its senior leader Mallikarjun Kharge from Karnataka and had surplus votes to ensure my victory as our party is 10 votes short of the required 44 votes to win," Gowda said.

Kharge filed his nomination on Monday.

Party''s outgoing member Kupendra Reddy, whose 6-year term ends on June 25, told Gowda that he was not interested for a second term as he did not get enough time in the upper house to raise issues.

"As our party does not have numbers in Parliament to get more time allotted to raise issues and participate in debates, Reddy wanted me to be in the Rajya Sabha in his place so that I could serve the nation better," Gowda said.

Gowda lost in the May 2019 general elections from Tumkur to G.S. Basvaraj of the BJP.

With the term of the four members -- Congress'' B.K. Hariprasad and Rajeev Gowda, BJP''s Prabhakar Kore and JD-S''s Reddy ending on June 25, the Election Commission notified the poll on June 1.

According to the poll panel, the nominations will be scrutinised on Wednesday and last date for withdrawal by candidates is June 12. Polling and vote count is on June 19.

From the ruling BJP, its grassroot cadres Eranna Kadadi and Ashok Gasti filed their nominations after Gowda.

By fielding Gowda for the fourth seat, the Congress and JD-S, who had post-poll and pre-poll alliances for the Lok Sabha and state Assembly elections in May 2019 and May 2018, queered the pitch for the BJP, denying it the chance to win a third seat.

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News Network
February 4,2020

Bengaluru, Feb 4: The possibility of defeated MLA CP Yogeshwar being inducted into chief minister BS Yediyurappa’s cabinet is causing ripples within the ruling BJP, with many legislators, especially from Kalyana-Karnataka region, raising a banner of revolt.

Several MLAs led by Surapur legislator Narasimha Nayak, also known as Raju Gouda, held a meeting at the Legislators Home on Monday and voiced their opposition.

"When there are more than two dozen MLAs aspiring for a cabinet berth, making a former MLA a minister is beyond logic," Gouda said. "We will convey our feelings to Yediyurappa and state BJP president Nalin Kumar Kateel." Murugesh Nirani, Paranna Munavalli, Rajkumar Patil, Dattatreya Patil Revoor, Basavaraj Mattimud are among others who attended the meeting. MP Renukacharya, political secretary to the CM and Honnali MLA, was also present at the meeting. "Some more MLAs will join us when we meet again tomorrow," Gouda said.

The MLAs highlighted the issue of caste and regional imbalance in the council of ministers to further their cause. With four from Bengaluru and three from Belagavi district set to take oath on February 6, the share of MLAs from these districts in the cabinet will rise to seven and five respectively. Currently, 16 districts have no representation.

Sources say Yediyurappa and BJP’s national leadership decided to reward Yogeshwar with a cabinet berth for his "active" role in getting 17 Congress-JD(S) MLAs to resign and join the BJP, enabling the party to grab power. The party also believes he has the potential to become the Vokkaliga face of the BJP in the Old Mysuru region, where the party’s organisation is weak.

If Yogeshwar is inducted, he will be the second former MLA to make it to Yediyurappa cabinet after deputy CM Laxman Savadi, who lost the 2018 assembly polls. Several party MLAs were unhappy with Savadi’s elevation and are now upping the ante against the party leadership.

"Let Yogeshwar be made Rajya Sabha or council member. We have no problem. But making him minister is not acceptable. If they want to make defeated MLAs ministers, then why not AH Vishwanath and MTB Nagaraj, whose sacrifices brought BJP to power?" said Gouda.

Reports say Yediyurappa has promised Vishwanath and Nagaraj, the disqualified MLAs who lost the bypolls, that they would be made ministers in June. Both met Yediyurappa and secured this assurance. The two were demanding that they be inducted into the cabinet on Thursday.

Meanwhile, Vijayapura MLA Basavanagouda Patil Yatnal urged the CM to evaluate the performance of existing ministers and drop those found non-performing. "Many ministers don’t even come to the Vidhana Soudha. What is the use of having such ministers?" he asked.

Yediyurappa also continued to face pressure to induct Athani MLA Mahesh Kumatalli into the cabinet. The Jarkiholi brothers, Ramesh and Balachandra met Yediyurappa separately on Monday with a request to make Kumatalli, their confidant, a minister.

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