Congress holds protest against note ban

While hawala cash transfers to terrorists and separatist elements based in Kashmir, which were mostly in denomination of Rs 500 and Rs 1,000, have come to an abrupt halt, Maoist groups, particularly in states like Bihar and Jharkhand, are at pains to "convert" the extortion money that has been stocked as piles of cash into 'legal tender', according to sources.

The Supreme Court on Tuesday refused to stay the Modi government's notification demonetizing Rs 500 and Rs 1,000 currency notes+ but asked the Centre to file an affidavit giving details of steps taken to ease inconvenience faced by citizens+ due to long queues at banks and ATMs.

Indelible ink would be used for over-the-counter exchange of old notes of Rs 500 and Rs 1,000, a move aimed at preventing misuse of the exchange facility and reducing long queues at bank branches. The ink, which is used in elections to identify those who have voted, will not be applicable on those who withdraw or deposit money.

RBI said that its guidelines only require customers to present and show valid proof, the photocopies are not required. A senior official of the State Bank of India confirmed the same: "The bank only needs details and numbers on the requisition slip which the teller will match with entries in a document," he said.

The threat of a washout looms over the winter session of Parliament with Congress likely to demand that a discussion on scrapping Rs 500 and Rs 1,000 notes be accompanied with a government explanation and an inquiry into alleged "leak of information" about demonetisation.

Congress Vice President Rahul Gandhi tonight accused Prime Minister Narendra Modi of "laughing" when 18-20 people died in queues outside banks and ATMs and termed the demonetisation of high currency notes as a decision sans rationale.

The Telangana government has decided to study the impact of demonetisation of high currency notes on its revenue on a daily basis. State chief secretary Rajeev Sharma, who held a meeting with senior officials, asked them to study the impact of demonetisation on the respective departments and also to meet everyday on the issue, a state government release said.

The government is preventing people to withdraw their own money, says Congress

BJP MLA Vijender Gupta marshalled out of the Assembly.

Also, there are by-elections on Nov 19. What will EC say about this decision to put indelible on prospective voters?: WB CM Mamata Banerjee pic.twitter.com/jmh9CwJr3D

— ANI (@ANI_news) November 15, 2016

Economic affairs secretary Shaktikanta Das said the legitimate Jan-Dhan account holders would not be put to any kind of difficulty. However, the source of deposits of above Rs 50,000 into these accounts will be verified, he added.

DMK treasurer MK Stalin, campaigning in Thiruparankundram for a byelection, got down from his vehicle when he saw people standing in queue to withdraw money from a bank at Nallur. He enquired about the difficulties they faced.

Former Finance Minister P Chidambaram ridiculed the demonetisation move, saying banks doling out cash to citizens was "proof" that 'achhe din' have arrived. In a series of tweets, the senior Cong leader also took a dig at the Modi govt on the way it was implementing the scheme, remarking that "millions of working people standing in queue. Long live Productivity". Apparently taking a jibe at PM Modi, who had said that the poor are getting sound sleep while rich are buying sleeping pills, he remarked tongue-in-cheek, "Thousands of 'rich' and 'corrupt' persons standing in queue. The poor are cheering from their homes!". "Banks are doling out cash to citizens. That is proof that "Achhe Din" have arrived!", he added referring to Modi poll slogan.

Delhi Chief Minister Arvind Kejriwal on Tuesday called for an immediate roll back of the demonetisation decision which has led to cash chaos across the country. Speaking in the Delhi assembly, the Aam Aadmi Party leader also demanded a Supreme Court-monitored probe into the entire exercise. Kejriwal told the House that the November 8 announcement to spike the 500 and 1,000 rupee notes had caused misery to ordinary people.

"There will be a penalty if a mismatch is found in your declared income in the annual returns for the year and your actual income which comes to be assessed by the IT department," Patel said, speaking at a seminar on emerging tax issues and economic prospects after demonetization, in Ahmedabad on Monday.

A Patel family from Gota had over Rs 10 lakh in hand, for a forthcoming wedding, for the purchase of gold, dresses and to pay for the caterers, venue and other expenses. As these service providers refused to the now-invalid notes, the family became desperate and fell for a trap laid by fraudsters.

Shiv Sena also assured us to join tomorrows meeting with President over the issue of #demonetisation: West Bengal CM Mamata Banerjee pic.twitter.com/tmteGEEvHc

— ANI (@ANI_news) November 15, 2016

Nepal PM Prachanda telephoned Prime Minister Narendra Modi and sought an arrangement so that Nepalese holding banned high denomination Indian bank notes could swap them with legal currency in the country.

Gold and jewellery establishments in the national capital remained closed for the 5th day on Tuesday after the Income Tax Department conducted surveys following reports of alleged profiteering and tax evasion by traders and other operators in reported conversion of demonetised notes.

I support our PM, this is a good step for our country. Today both rich & poor stand together & have equal amt of money: Mary Kom (Boxer) pic.twitter.com/z4aVOxmSBx

— ANI (@ANI_news) November 15, 2016

Ponjekar Prajyot Mainkar setup a crowdsourced Google sheet to identify ATMs in Goa that are functioning and those that are out of cash.

There had to be an element of surprise, or the unscrupulous elements would have taken advantage.There was no question of sharing it: Naidu pic.twitter.com/ggXSoHYpX4

— ANI (@ANI_news) November 15, 2016

Intaglio ink used in notes thats reason for colour, its normal you can check on old Rs 100 notes if it doesn't it is sign of fake currency:Das pic.twitter.com/8JdTALbkrF

— ANI (@ANI_news) November 15, 2016

* PM Modi reviewed supply of currency for the second time in two days last night.

* We have been trying to analyse reasons for long queues and it has come to notice that same people are coming over and over again.

* We have received reports, many people are trying to convert black money into white, organising groups of people and are sending them to exchange money.

* We have decided to use indelible ink marks, similar to elections, at cash counters.

* Cash availability with branch post offices and district cooperative banks has also been enhanced.

* Religious places receiving donations in smaller denominations are being urged to immediately deposit the same in banks to increase currency liquidity.

* Govt keeping close watch on Jan Dhan accounts. Legitimate deposits will not be put to any inconvenience.

* To ease pressure on banks, a task force has been set up to look after shifting and storing of old notes.

* Special Task Force set up to monitor infusion of fake currency, especially in the vulnerable areas.

* We have enough stock of salts; No reason for temporary surge in price or shortage.

* Supply of essential commodities being closely monitored, unscrupulous elements had spread rumours.

* False stories are being spread on social media such as institutions going on strike.