Demonetisation will benefit country in long run: RSS

Agencies
September 3, 2017

Vrindavan, Sep 3: Backing the government on demonetisation, the RSS today said people are now realising that the move to ban high denomination notes will benefit the country in the long run.

The top brass of the Rashtriya Swayamsevak Sangh along with office bearers of its allied organisations held a closed door meeting for three days which ended here.

However, earlier some Sangh affiliates had criticised the government on the issue of banning high denomination notes of Rs 500 and Rs 1,000.

This is the first time that a top RSS functionary has categorically supported demonetisation.

RSS Prachar Pramukh Manmohan Vaidya said the issues related to economic policy were discussed at length and Sangh affiliates also shared their views in the meeting.

"Earlier the country was in shock but now people are coming out of those earlier shocks and are realising that the decision of demonetisation will benefit the country in the long run," Vaidya said.

Vaidya further said that there were also discussions on promoting domestic small scale industry and unemployment in the country.

To another question on higher import of cheap Chinese goods, he said the RSS supports the Swadeshi Jagran Manch (SJM) in its movement to boycott Chinese goods.

The meeting was called for better coordination among all RSS affiliates.

Besides RSS chief Mohan Bhagwat, BJP president Amit Shah and Uttar Pradesh Chief Minister Yogi Adityanath also attended the meeting.

Comments

SHAHID
 - 
Tuesday, 5 Sep 2017

All are uneducated idiots how can they know the status what has happened....this blind chaddi bhakts just saying what the BJP has told them to say....

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Agencies
June 10,2020

New Delhi, Jun 10: The Enforcement Directorate (ED) on Wednesday brought back over 2,300 kg of polished diamonds and pearls worth Rs 1,350 crore of firms belonging to Nirav Modi and Mehul Choksi from Hong Kong, officials said.

Out of the 108 consignments that landed at Mumbai, 32 belong to overseas entities "controlled" by Modi while the rest are of Mehul Choksi firms.

Both the businessmen are being probed by the ED under the Prevention of Money Laundering Act (PMLA) in connection with an over USD 2 billion alleged bank fraud at a PNB branch in Mumbai.

The valuables include polished diamonds, pearls and silver jewellery, and is worth Rs 1,350 crore. 

The ED completed "all legal formalities" with authorities in Hong Kong to bring back these valuables, the agency said.

These will formally seized under the PMLA now, it said.

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News Network
July 6,2020

New Delhi, Jul 6: India's COVID-19 tally neared the 7 lakh mark with 6,97,413 cases after 24,248 new cases were reported in the last 24 hours, said the Union Ministry of Health and Family Welfare.

As per the Health Ministry, there are 2,53,287 active cases in the country while 4,24,432 patients have been cured or discharged. While one patient has migrated.

425 new deaths were reported in the last 24 hours in the country due to COVID-19, taking the number of patients succumbing to the deadly virus to 19,693.

As per the Health Ministry, Maharashtra continues to be the most impacted state from the infection with 2,06,619 cases and 8,822 fatalities due to the virus. Tamil Nadu in second place has a total of 1,11,151 cases and 1,510 fatalities.

The national capital's COVID-19 cases are also nearing the 1-lakh mark with 99,444 coronavirus cases and 3,067 deaths.

The total number of samples tested up to July 5 is 99,69,662 of which 1,80,596 samples were tested yesterday, informed the Indian Council of Medical Research on Monday. 

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News Network
January 7,2020

Jan 7: India’s monetary authority allowed banks to offer foreign-currency transactions outside of local market hours, a move aimed at boosting trading volumes at home.

Interbank deals, as well as those with customers in and outside India, can be undertaken by banks or their overseas branches and units at all times, the Reserve Bank of India said in a statement late Monday. It stopped short of saying whether the timing of the onshore over-the-counter market has been extended from the current 9 a.m. to 5 p.m.

The move is in line with recent recommendations to reverse the trend of the partially convertible rupee being traded more abroad than in India. London has overtaken Mumbai to become the top center for trading the rupee, adding to a sense of urgency among local authorities to deepen the onshore market.

Average daily volumes for rupee in the U.K. soared to $46.8 billion in April, a more than fivefold jump from $8.8 billion in 2016, according to a survey from the Bank for International Settlements published in September. That exceeded the $34.5 billion recorded in India.

Analysts say more trading abroad could amplify volatility in the domestic market and reduce the effectiveness of policy actions.

India’s decision comes as the London Stock Exchange Group Plc has started asking market participants if they want the bourse to function fewer hours, signaling it’s open to an argument driven by changing trading patterns and calls for a better work-life balance.

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