Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
June 29, Thursday 2017 9:13 AM       

       HEADLINES: Attack on actress: Govt is with the victim, says Kodiyeri                                              Pulsar Suni hid phone in kitchen                                              Loknath Behera appointed state police chief                                              Half done things will be completed, says Behera                                              There are no known criminals in film industry: Innocent                                              Operations at Jawaharlal Nehru port in Mumbai hit by ransomware                                              Aadhaar-PAN linking must from July 1, govt notifies rules                                              Junaid Khan lynching: Four more including 50-yr-old arrested                                              Iran accuses US of 'brazen' plan to change its govt Advertisement                                              Modi world's most important PM: Israeli daily                                              Modi, Trump meeting a 'tremendous success': US experts                                              Need to be consistent to win big events, says Prannoy                                              FIFA discloses damaging Qatar World Cup bid report                                              Federer poised for record Wimbledon triumph                                              Anyone can apply: Ganguly on Shastri                                              Kaumudi Facebook
       INDIA Next Article: Opposition should not politicise armed forces: Javadekar  
       Normalcy in currency operations restored: Jaitley
 
         Posted on :21:42:48 Feb 17, 2017
   
A A
       Last edited on:21:42:48 Feb 17, 2017
         Tags: Normalcy in currency operations restored: Jai
 
NEW DELHI: Finance Minister Arun Jaitley today said normalcy has been restored within few weeks of the unprecedented decision to recall 86 per cent of the currency in circulation and there is no shortage of notes in market. Currency note printing presses of Reserve Bank of India as well as Security Printing and Minting Corporation of India Ltd (SPMCIL) have worked without a break to remonetise by issuing new bank notes, he said.
 
Speaking at the 11th Foundation Day function of SPMCIL here, he said the easiest task during demonetisation was to pass comments and make snide remarks. "But the toughest work is to implement it. This is perhaps the biggest demonetisation drive in the world that was aimed at striking at the very root of corruption, black money and counterfeit currency," he said. Stating that people often commented that it may take up to one year or at least seven months to restore normalcy, he said the task has been achieved within few weeks.
 
"Normalcy has been restored within few weeks and there is no shortage (of bank notes) in market for even a day," he said. And this has been achieved "without a single incident" of unrest anywhere in the country, he said adding this was possible because of exemplary work done by printing presses of RBI and SPMCIL who kept the supply line going. "For long you have worked for 24 hours, without break and to complete it with efficiency," he told SPMCIL employees gathered on the occasion.
 
Economic Affairs Secretary Shaktikanta Das said SPMCIL fulfils a sovereign function by printing currency notes, minting coins and printing non judicial papers and stamps. "During the last one year and especially during the demonetisation period, each and every employee of SPMCIL has risen to the occasion to meet the requirement of printing of new currency notes," he said. SPMCIL initially ran two shifts, each with longer duration, he said.
 
"But as we went into the process of remonetisation, during the months of November and December, SPMCIL was able to run 24x7, three shifts a day. "The total quantum of notes which were printed during those days rose exponentially, that helped the government in the process of demonetisation," he said. To give pace to remonetisation, SPMCIL airlifted currency notes from its presses at Nasik and Devas to places like Kolkata, Guwahati, Chandigarh, Delhi and Lucknow, he said.
 
"SPMCIL has become debt-free. This also is an opportunity for the company to leverage this status and look at modernisation of old equipment (and) to increase productivity by replacement of old equipments," he added. The government had on November 8, 2016, announced demonetisation of 500 and 1000 rupee notes valued at Rs 15.45 lakh crore or about 86 per cent of the currency in circulation. It has replaced them with new currency notes of 500 and 2000 rupee denominations.
A A
       INDIA
Next Article: Opposition should not politicise armed forces: Javadekar
 
 
INDIA HEADLINES
Odisha to set up blood bank for cattle  
Chidambaram questions Modi govt for US remarks on JK  
Das inaugurates country's biggest fresh water aquarium  
I want to return to India with respect: Nadeem  
GST will not affect textile business: Khattar  
Mumbai serial blasts 'mastermind' Mustafa Dossa dead  
Monsoon set to hit Punjab, Haryana by Jun 30  
Junaid Khan lynching: Four more including 50-yr-old arrested  
Aadhaar-PAN linking must from July 1, govt notifies rules  
Operations at Jawaharlal Nehru port in Mumbai hit by ransomware  
Man runs car over friends; kills one, injures another  
UP: Mother-daughter abducted, gang raped  
Prison riot: Indrani Mukerjea moves special CBI court claiming assault  
Gulberg massacre: Gujarat HC grants bail to VHP leader Atul Vaidya  
Fast track interlinking river projects: Stalin writes to PM  
Meira Kumar says casteism bug should be buried, bats for equality  
Girl burnt alive for resisting molestation bid  
Satisfied with our work: Yogi on completing 100 days in UP  
SC refuses to stay Govt's Aadhaar notification  
Pak targets LoC posts with mortar bombs on Eid: Army  
K Kasturirangan heads panel on National Education Policy  
'Act of God' blamed for cable car accident that killed seven in Gulmarg  
CRB visits country's first underwater tunnel project  
In talks with India over Mansarovar pilgrimage issue: China  
CBI arrests a DRT official in alleged bribery case  
 
Do you think there is conspiracy against Dileep?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy