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From farmers to women: PM tries to cover all with his New Year's gift post note ban pain

BT Online     December 31, 2016

HIGHLIGHTS

  • Banks have been asked to raise cash credit limit to small business to 25 per cent from 20 per cent: Modi
  • Senior citizens will get 8 per cent interest for upto 750,000 rupees deposits: Modi
  • People who want to take home loans upto Rs 9 lakh will get 4 per cent exemption on interest and upto Rs 12 lakh will get 3 per cent exemption: Modi
  • Law will do its job on illegal wealth holders but government's priority is that honest get protection & their difficulties are reduced: Modi
  • Farmers who had taken loans from Cooperative banks and Primary society won't have to pay for 60 days' interest. The governbment will transfer the amount to their account: Modi
  • In India, only 24 lakh people accept that they earn more than Rs 10 lakh per year: Modi
  • Three crore Kisan credit cards will be converted into Rupay card in next three months: Modi
  • Bank officials and others who were caught doing wrong practice won't be spared: Modi
  • Large amount of money has come back into the mainstream economy: Modi
  • Unaccounted money was fueling the inflation and corruption in our economy: Modi
  • You won't find any example in the whole world of what we did: Modi 
  • Government officials are instructed to focus on normalisation of bankings: Modi

Just a day after 50-day deamonetisation deadline ended, Prime Minister Narendra Modi addressed the nation in a televised speech.

This was Prime Minister's first televised address since the demonetisation on November 8.

In his last address, the Prime Minister had announced the demonetisation of the old Rs 500 and Rs 1000 notes to put an end to counterfeit currency and black money. He also urged people to give him 50 days time to make things normal.

His 50 days deadline for depositing the scraped notes in bank ended on Friday. During his speech on November 8, the Prime Minister said: "The magnitude of cash in circulation is directly linked to the level of corruption. Inflation becomes worse through the deployment of cash earned in corrupt ways."

 


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