RBI rolls back norms for deposit of old notes by KYC customers

December 21, 2016

Mumbai, Dec 21: Under all-round attack, the Reserve Bank today did a U-turn on customers depositing demonetised notes over Rs 5,000 till December 30 by making it clear that there will be no questions asked either in case of one-time or repeat deposits if the accounts are KYC-compliant.

RBI Such customers will also not be questioned by bank officials on why they had failed to deposit the old notes earlier.

The RBI turnaround came as Finance Minister Arun Jaitley's assurance on Monday night and yesterday that there will be no questions asked to customers who would make one-time deposit above Rs 5,000 failed to persuade bank officials who insisted that there should be fresh circular from RBI so that customers will not be harassed.

However, customers with non-KYC accounts will be subject to stiff conditions imposed by RBI on December 19 for deposit of junked notes.

The decision follows widespread criticism of the guidelines, with people saying the Prime Minister as well as the finance minister have asked people not to throng the banks as they have time till December 30 to deposit invalid notes in their accounts.

On review of the guidelines, RBI decided to modify the old currency deposit rules for fully-KYC compliant customers, an RBI notification said today.

The December 19 notification of RBI had said tenders of old currency in excess of Rs 5,000 into a bank account will be received for credit only once during the remaining period till December 30, 2016.

"The credit in such cases shall be afforded only after questioning tenderer, on record, in presence of at least two officials of the bank, as to why this could not be deposited earlier and receiving a satisfactory explanation. The explanation should be kept on record to facilitate an audit trail at a later stage," it had said.

Replying to queries on curbs on deposit of old currency notes by RBI, Finance Minister Arun Jaitley yesterday had said people should go and deposit the now-defunct notes at one go as repeat deposits raise doubt.

"Today, there are no exemptions... Now, there is no further scope of earning old currency. So, those who have got old currency must go and deposit at one go," he had said.

"Therefore, if somebody goes everyday and deposit old currency, it raises suspicion. How is he getting everyday? As long as exemptions existed, there was scope for getting old currency. But once the exemptions have been lifted, if you have old currency, go and deposit at one go."

Comments

When I read Govt/Bank/Ministers statements on demonetisation, it reminds me of the KG class story of intoxicated Monkey playing havoc in the village. Very painful entertainment indeed!!!

in all top department mad people sitting to take daily different decisions.

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Sachin Pilot shouldn't go Scindia way; he has future in Congress: Digvijaya Singh

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July 19,2020

New Delhi, Jul 19: Blaming the BJP for the political drama in Rajasthan, senior Congress leader Digvijaya Singh on Sunday asked Sachin Pilot not to leave the grand old party.

In an interview to news agency, the former Madhya Pradesh chief minister said Pilot should not follow Jyotiraditya Scindia into the BJP, as he has bright future in Congress.

His remarks follow Pilot's open rebellion against the Ashok Gehlot government, which has been on shaky ground with at least 18 legislators backing the rebel leader.

Pilot was sacked as Rajasthan deputy chief minister and the state Congress chief recently and the Congress has accused the BJP of making efforts to topple the Gehlot-led government by indulging in horse-trading.

"The BJP is behind the crisis in Rajasthan," Singh said.

The Congress veteran said he tried to call Pilot but his calls and text messages went unanswered.

"Age is on your side. Ashok (Gehlot) may have offended you, but all such issues are best resolved amicably. Dont make the mistake that Scindia made. BJP is unreliable. Nobody who joined it from any other party has succeeded there," Singh said.

He said this is the first time that Pilot hasn't responded to him.

"Sachin is like my son. He respects me and I also like him. I called him three-four times and also texted him. He didn't revert. He used to respond immediately earlier," he said.

"It is good to be ambitious. How can one move forward without having ambitions, but along with ambition, one must also have commitment to your organisation, ideology and the nation," Singh said.

For latest updates on the Rajathan Political Crisis, click here

"I heard that he (Pilot) may form a new party. But what is the need for it. Has Congress not given him anything? He was made an MP at 26, a Union minister at 32, the state Congress president at 34 and deputy chief minister at 38. What else does he want? Time is on his side," Singh said.

If Pilot had any issue, then as the state party unit president, he should have called a meeting and discussed the matter, he said. Pilot could have involved Congress national general secretary and Rajasthan in-charge Avinash Pande in talks with Gehlot to resolve differences, he added.

"If you have faith in your legislators, why have you have confined 18-19 of them in ITC Grand hotel at Manesar in Haryana," Singh said.

This is the same hotel where the BJP kept MLAs from Maharashtra, Karnataka and Madhya Pradesh (during political dramas in those states), he said.

Pilot should forget whatever has happened, come back and sit across the table to discuss how Congress could be strengthened, he said

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India would not discriminate among religions, we are not a theocratic country like Pakistan: Rajnath Singh

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January 22,2020

New Delhi, Jan 22: Defence Minister Rajnath Singh on Wednesday said Indian values consider all religions equal, and that is why the country is secular and never became a theocratic state like Pakistan.

Speaking at the NCC Republic Day Camp in Delhi, Singh said: "We (India) said we would not discriminate among religions. Why did we do that? Our neighbouring country has declared that their state has a religion. They have declared themselves a theocratic state. We didn't declare so."

"Even America is a theocratic country. India is not a theocratic country. Why? Because our saints and seers did not just consider the people living within our borders as part of the family, but called everyone living in the world as one family," the minister said.

Singh underlined that India had never declared its religion would be Hindu, Sikh or Buddhist and people of all religions could live here.

"They gave the slogan of 'Vasudev Kutumbakam' -- the whole world is one family. This message has gone to the whole world from here only," he added.

Comments

Very thoughtful and eye-catching statement by Defense Minister, Rajnath Singh.

Sir, I kindly request you to convey this beautiful message to your Party’s comrades, who are deprived of this dosage for long times and are badly need of this.

Also, for those from your Party, who are, time and again, spitting the venomous rhetoric against Dalits, Muslims, Christians and others alike.

Yashwant Sinhaji is now doing a wonderful job in this regard.

You will also follow his suit for sure in the days to come; that’s what your honest statement indicates.

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Mosques in Ayodhya promoting peace and harmony ahead of Ram temple’s 'bhoomi pujan'

coastaldigest.com news network

July 27,2020

Ayodhya, Jul 27: With days to go for the August 5 "bhoomi pujan" ceremony of the Ram temple in Ayodhya, the mosques adjacent to the demolished Babri Masjid premises are spreading the message of a peaceful coexistence of Hindus and Muslims.

There are eight mosques and two mausoleums located close to the 70-acre Babri Masjid premises mandated by the Supreme Court for a temple of Sri Ram.

Azaan and namaaz are offered in the mosques and the annual "Urs" is held at the mausoleums without any objection from the local Hindus.

The eight mosques located near the upcoming Ram temple premises are Masjid Dorahikuan, Masjid Mali Mandir ke Bagal, Masjid Kaziyana Achchan ke Bagal, Masjid Imambara, Masjid Riyaz ke Bagal, Masjid Badar Paanjitola, Masjid Madaar Shah and Masjid Tehribazar Jogiyon ki.

The two mausoleums are Khanqaahe Muzaffariya and Imambara.

"It is the greatness of Ayodhya that the mosques surrounding the Ram temple are giving a strong message of communal harmony to the rest of the world," Haji Asad Ahmad, the corporator of the Ram Kot ward, said. The Ram temple area is situated in Ahmad's ward.

"Muslims take out the 'juloos' of Barawafaat that goes through the periphery of Ram Janmabhoomi. All religious functions and rituals of Muslims are respected by their fellow citizens," the corporator said.

Asked for a comment on the presence of mosques near the upcoming Ram temple premises, the chief priest of the temple, Acharya Satyendra Das, said, "We had a dispute only with the structure that was connected to the name of (Mughal emperor) Babur. We have never had any issue with the other mosques and mausoleums in Ayodhya. This is a town where Hindus and Muslims live in peace."

"Muslims offer namaaz, we perform our puja. The mosques around us will strengthen Ayodhya's communal harmony and peace will prevail," he added.

Both Hindus and Muslims have accepted the Supreme Court verdict over Ram Janmabhoomi, Das said, adding, "We have no dispute with each other."

Sayyad Akhlaq Ahmad Latifi, the "sajjada nasheen" and "pir" of the 500-year-old Khanqaahe Muzaffariya mausoleum, said Muslims in Ayodhya are performing all religious practices freely.

"We offer prayers five times a day in the mosque at Khanqaah and hold the yearly 'Urs'," he added.

"What a scene would it be -- a grand Ram temple surrounded by small mosques and mausoleums and everyone offering prayers according to their beliefs. That will be representative of the true culture of India," Mahant Yugal Kishore Sharan Shastri, the chief priest of the Sarayu Kunj temple adjacent to the Ram Janmabhoomi premises, said.

Reacting to the presence of mosques and mausoleums near the Ram Janmabhoomi premises, Triloki Nath Pandey, the decree holder of the land as the "first friend of Ram Lalla" as mandated by the Supreme Court, said, "We do not have any objection to either those mosques or any other mosques. We will not trigger a dispute regarding any structure, Ayodhya must live in peace and communal harmony."

Mahant Raju Das, the priest of the Hanumangarhi temple, said, "The presence of the mosques tells the story of Ayodhya's communal harmony. A Ram mandir will be built and there will be no objection to the mosques or religious practices of Muslims."

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