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Demonetization: Indian Government to re-introduce Rs 1000 Currency Notes with Advanced Security Features

new ₹1,000 notes will be re-introduced over the next few months with enhanced security features

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Customers line up outside a New Delhi bank to exchange outdated currency or make withdrawals. (A. Pasricha/VOA)
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Imphal, Nov 26, 2016: Demonetization, which is causing such a major challenge to all the Indians both financially and medically has come up with a better solution this time with the announcement of new Rs. 1000 notes along with ‘enhanced’ features, says Economic secretary. It is definitely a partial relief, if not a permanent solution to all the problems.

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Secretary of Department of Economy Affairs, Shaktikanta Das on Thursday said new ₹1,000 notes will be re-introduced over the next few months with enhanced security features and in a different colour.

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Mentioning the new avtar of the scrapped thousand rupee note, Das also emphasised that the existing Rs. 100 and Rs. 50 will continue to be valid. However, the timeline of the re-introduction of the new note is not indicated.

The notes will be re-introduced in next few months. In addition to this, Economic Affairs Secretary also mentioned that all the denominations will be re-introduced in new design and features, mentioned ANI.

There has been enough chaos on streets regarding the currency swap move. Finance Minister Arun Jaitley also said that people depositing small amounts won’t face any harassment. However, those bringing large amounts are likely to face consequences.

According to HuffPost report, government also warned that a cash deposit of above Rs. 2.5 lakh threshold under the 50-day window could attract a tax plus 200% penalty if the cash deposited in bank accounts doesn’t match with income declared.

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Demonetisation Anniversary: BJP acts cheeky, releases new video showing Frustration of ‘Corrupt’ Politicians following Demonetisation

The one-minute video, which is now going viral on social media, has already been re-tweeted more than 2 thousand times since it was released on November 7, on the eve of demonetization move.

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Demonetisation Anniversary
Screen grab of the sarcastic video released by BJP to mark Demonetisation Anniversary. Twitter

New Delhi, November 8, 2017 : On November 8 2016, every Indian citizen sat glued to their TV screens as Narendra Modi was set to make a big announcement. Outcome? The Indian Prime Minster shocked the entire nation with the introduction of Demonetisation, a move that was to change the very foundation of the cash-dependent Indian economy.

The much-debated move by Modi garnered the attention of several well-versed economists from the country and abroad, alike. While some people willingly welcomed the move, there were others who stood in staunch criticism.

As the move completes its first year, the Bharatiya Janata Party (BJP) is set to observe November 8 as ‘anti-black money day’ to celebrate Demonetisation anniversary in the country.

On the eve of the Demonetisation anniversary, the BJP released a cheeky video claiming to depict how ‘corrupt’ politicians have been criticizing the move, as the nation won following demonetisation.

WATCH BJP’S TONGUE-IN-CHEEK VIDEO

In the video, the BJP attempted to take a dig at corrupt politicians, who have been criticizing PM Modi’s Demonetisation move.

In the video, a woman, playing the character of a frustrated, corrupt politician can be seen going on a rant over PM Modi’s note ban initiative, which was aimed to combat black money, corruption, fake currency and terrorism.

The video ends with a voice-over saying demonetisation has not only brought out this frustration of corrupt citizens, but also black-money, claiming that almost 99 per cent cash which was previously lying hidden with people has now entered the banking system.

The one-minute video, which is now going viral on social media, has already been re-tweeted more than 2 thousand times since it was released on November 7, on the eve of demonetization move.

Ahead of the Demonetisation anniversary, the last few days have witnessed several leaders present their opinions on PM Modi’s demonetization move.

Finance Minister Arun Jaitley called PM Modi’s note ban initiative a ‘watershed moment’ while Piyush Goyal, Minister of Railways believes the move has pushed India towards a more transparent economy.

However, the move is being criticized by ex-Prime Minister Manmohan Singh calling it ‘irresponsible’. The opposition maintains that PM Modi’s note ban initiative has caused reckless damage to the country and the Indian economy.

On Demonetisation anniversary, the BJP is set to observe November 8 as ‘anti-black money day’, while opposition leaders are set to observe the day as ‘black day’ in protest against the note ban initiative.