Wednesday, November 9th, 2016
Notes Ban: Interesting story, how Modi kept the secret till last minute, even cabinet members were locked in a room
Prime Minister Narendra Modi’s gamechanging move to demonetise Rs 500 and Rs 1,000 notes was a well-kept secret for nearly 6 months. According to an ET Now report, work on the big-bang black money reform started six months back and the entire operation was kept top secret to avoid any leak of sensitive info. It was around six months ago that the Modi government told the RBI to get set for this big-bang attack on black money. Earlier this year, Modi had made the decision to phase out the currentRead More
Read here: How currency note ban is not sudden decision, but a systematic planning from 2 yrs, by Modi Govt.
The Decision to stop the Rs 500 and Rs 1000 denomination was not sudden. It merely started with bank account for all, the financial inclusion scheme, that Modi govt penned very first after assuming office, which yielded over whelming results and appraisal from World Bank. Then linked bank accounts with Aadhar, which was called as Direct Benefit Transfer. The primary aim of this Direct Benefit Transfer program is to bring transparency and terminate pilferage from distribution of funds sponsored by Central Government of India. In DBT, benefit or subsidy willRead More