Economic Affairs Secretary Shaktikanta Das addresses media on notes ban.
Economic Affairs Secretary Shaktikanta Das is addressing a media as the government is battling the opposition's criticism on its sudden move to ban the big currency notes to check black or untaxed money.
Here are the highlights of his speech - Government has decided on certain measures keeping in mind the farmers and also promoting digital transactions across the country.
- For benefit of farmers, NABARD (National Bank for Agriculture And Rural Development) has sanctioned 21,000 crores to rural areas.
- This will enable district cooperative banks to pass the money to primary agri societies. This will help farmers for current Rabi season.
- To ensure that farmers get credit, the banks, NABARD, and RBI will make cash available to districts.
- The list of DCCB's have been given to the RBI and the required money will be made available.
- To ensure that farmers get credit, the banks, NABARD, and RBI will make cash available to districts.
- The list of DCCB's have been given to the RBI and the required money will be made available.
- As far as RUPAY cards are concerned, all switching charges and other charges have been waived till December 31.
- The service providers have also agreed to waive all switching charges on all debit cards till December 31.
- The intention behind this gesture is to ensure that more and more people move towards digital transactions.
- Railways have also agreed to waive all service charges on online booking of rail tickets. This is also done with the aim to encourage people to migrate to digital transactions.
- The TRAI also reduced USSD charges from Rs. 1.50 to 50 paise for feature phones (not smartphones) - as feature phones comprise over 65% of all phones.
- The government will also promote digital transactions at toll plazas. The Ministry of road transport have told manufacturers to include ETC complaint RFID facility in all new cars.
- All new government organisations and public sector facilities have been asked to use only e-payments - that is via card or digital platforms, AADHAAR enabled payments, etc.
- The National Payment Corporation of India has played a crucial role in ensure digital transactions.
- According to RBI, around 80,000 ATMs out two lakh ATMs in the county have been recalibrated. So its just a matter of few days before money is available to all.