Congress holds protest against note ban

The currency ban, now in its third week, was implemented not just to crack down on unaccounted wealth, but also to starve terrorists and extremists of funds. Read on to know the ten facts on the effects of demonetisation on terrorism funding and Left-wing extremism.

iPhone sales shot up in India in the three days immediately following demonetisation. As per estimates, over 1 lakh iPhones were sold in these three days. iPhone sales in November were further boosted by adequate availability of iPhone 7 Plus in the market.

Stephen Gomez (40) and Alexandra Forero (34), a couple from Bogota in Colombia who landed in India shortly before demonetisation and got dollars worth a lakh rupees exchanged at the airport, are now stuck in Agra with valid cash of just Rs 500 which is barely sufficient to pay for their next frugal meal.

The government is pushing banks to install 10 lakh credit card swipe machines in the next three months and SBI alone is expected to install 6 lakh machines. To incentivise banks and manufacturers of point of sales (PoS) terminals, the government has waived the 12.5% excise duty and 4% special excise duty on these machines.

On Monday, a fortnight after demonetisation, there was desperation as people realised that things hadn't improved even after so many days. "I saw many people queued up, so I blindly joined them," said Praveen, a student, at the Bank of Baroda ATM in Laxmi Nagar. There were 20 people ahead of him, though ironically the ATM cubicle itself was shut. Clearly, Praveen and his co-aspirants had lined up in the desperate hope that the ATM would spew out notes soon.

Thousands of Congress workers and supporters on Monday walked towards Parliament beating utensils to protest against the "financial emergency and total chaos" resulting from the demonetisation exercise. The 'Jan Aakrosh March', though, was stopped at Parliament street police station. "The common people have been queueing up outside banks and ATMs for hours to draw their own money while the real black money hoarders are sitting cosily in their homes. Street vendors, small shopkeepers and daily wage earners have been deprived," said DPCC president Ajay Maken.

In Delhi, a 'jan samwad' was organised at Connaught Place's Central Park where senior party functionaries released a song on the impact of the note ban. AAP's Delhi unit convener Dilip Pandey , who sang with others, accused the Centre of wreaking havoc on the lives of people.

Psychiatrists are apprehensive about the policy measure leading to conditions such as stress, anxiety and depression. According to Dr S K Khandelwal, professor and head of psychiatry department at AIIMS, there is theoretical evidence about extreme policy measures causing mental health issues, but experts will further deliberate on the issue in the 22nd World Congress of Social Psychiatry (WASP) to be held in New Delhi from Wednesday onwards.

Nitish, who was the first to support demonetisation, told his colleagues that that his opinion was reinforced after he saw the support for the invalidation of high value notes at the 'Chetna Rally' organised in Madhubani on February 16 by the ruling coalition comprising JD(U), Lalu Prasad's RJD and Congress. "I got a standing ovation when I declared my support for demonetisation," a source quoted Nitish telling his colleagues to lay down the party line.

Around 60% of the value of the demonetised notes (Rs 14 lakh crore), has already been accounted for, according to data released by the Reserve Bank of India (RBI) on Monday. Even as deposits surge, there have been reports that the printing of Rs 2,000 notes has been stalled, which is said to have resulted in a drop in the legal tender being released by banks.

469 Maoists and their sympathizers have surrendered since the demonetisation announcement. Maoists' ability to procure firearms, ammunition, medicines, commodities of daily use and pay cash to cadres badly hit. Developmental policies in affected areas also serving as an incentive to surrender.

IFFCO has initiated a pan India outreach programme to educate farmers about the benefits of shifting towards cashless transactions. About 50 farmers did their first cashless transaction at an event organised by IFFCO in the presence of Union ministers.

Those who made and disclosed bank deposits of unaccounted money in the wake of the demonetisation decision on November 8 will have to forego 50% of the amount, a part of which will go into a special fund being created for welfare measures for the poor. In fact, the depositor will be able to access only 25% of the amount as the government has decided to keep the rest locked in for four years as interest-free deposits for the Pradhan Mantri Garib Kalyan Yojana.

Banks are gearing up to meet the salary rush at branches from Tuesday, but the erratic availability of Rs 500 notes and intermittent supply of cash to some branches may upset plans being put in place to meet the surge. Some bankers said the expected bulk supply of Rs 500 notes has not arrived.

Unable for days to withdraw money from her account for her ailing father's medicines, a 25-year-old woman from Agra has tweeted to Prime Minister Narendra Modi and UP chief minister Akhilesh Yadav for help, saying she cannot stand in serpentine bank queues, leaving her cancer-stricken dad alone at home.

Aarti Kaushik of Mathura and Tara Goswami of Vrindavan could well be the poster girls of Prime Minister Narendra Modi's pitch for "cashless India", as they were married off by their families without spending any cash. Right from paying for tents, to caterers and pundits, to even giving shagun, all transactions were carried out by cheques or bank transfers, as no cash was available with the families.

"People have rejected those who support black money and corruption and appreciated the efforts of PM Narendra Modi against black money and corruption. The leaders behind the calls for 'Bharat bandh' and Jan Aakrosh Diwas' are tainted and have been rejected by people," BJP spokesperson Shrikant Sharma said.

By a single disastrous decision PM Modi has brought entire country to a standstill: Randeep Surjewala, Cong #DeMonetisation pic.twitter.com/wWyIczrogH

— ANI (@ANI_news) November 28, 2016

Opposition parties organised widespread protests across Andhra Pradesh against the Centre's demonetisation move but no bandh as such was observed in the state today even as leaders of CPI and YSRC were detained at some places following demonstrations.
Congress' state unit president N Raghuveera Reddy led his party workers in a protest rally from Andhra Ratna Bhavan to Lenin Centre.

Delhi: National Students Union of India (NSUI) stages a protest against #DeMonetisation pic.twitter.com/5eXchZz5C3

& mdash; ANI (@ANI_news) November 28, 2016

The parties which participated in the Jan Aakrosh Diwas protests included the Congress, Nationalist Congress Party, Aam Aadmi Party and the Communist Party of India-Marxist. "Demonetisation may be a good move but the manner in which it was implemented has caused tremendous hardship to common people," Nationalist Congress Party chief Jose Philip D'Souza said.

RBI has already given a proposal for increasing the MSS (Market Stabilisation Scheme) limit, its under consideration of the Govt: Das pic.twitter.com/r4Rd60Nl0a

& mdash; ANI (@ANI_news) November 28, 2016

P Padmakumar, who served as state secretary of Hindu Aikya Vedi, said he had decided to join the ruling CPM in the state, after being fed up with "political violence" and "inhumane stand" of BJP-RSS.

Opposition parties are holding nation-wide protests against the currency ban today. However, they haven't been able to see eye-to-eye on the means of protest, or the extent to which they disagree with the idea of demonetisation. Read on to understand the ten points explaining who stands where on today's protest and the events that led up to them.

PM suddenly came up with this decision acting like God; Never asked who needs Rs 500/1000 and made the #DeMonetisation move: WB CM pic.twitter.com/txCBA1SILP

& mdash; ANI (@ANI_news) November 28, 2016

There is no obstruction to train movements over four divisions of ER viz. Howrah, Sealdah, Asansol and Malda. Suburban trains and long distance trains are maintaining normal movements over Eastern Railway jurisdiction, says an Eastern Railway press release.

Dharmendra says Naveen's decision shows his party's double stand on demonetisation. "While opposition parties such as Left and Cong had announced they won't go for bandh, Naveen showed solidarity with the protesters by closing schools and colleges. And wasted a day of the students," he said.