You are here: Home » PTI Stories » National » News
Business Standard

Chandrababu now terms note ban 'opportunity'

Press Trust of India  |  Amaravati 

Two days after dubbing the ongoing currency crisis a "national calamity", Chief Minister today termed the problems resulting from the exercise as an "opportunity" for people to usher in a new economic regime.

"This is not a crisis but an opportunity to improve our efficiency. This (demonetisation) is a historic economic reform, a new change in the country's history. We have to get used to it," Chandrababu told state officials, District Collectors, bankers, FPS dealers and others via teleconference.



The change in tone came after Chandrababu, who was critical of the move in the last three weeks, was appointed by the Centre as the convenor of a 13-member committee to look into all issues related to demonetisation.

"Everyone should realise that the current troubles are only temporary and for long-term gains, we have to efficiently face them. My wish is that the current troubles should end with 2016 and 2017 should herald a new beginning," the Chief Minister said.

Chandrababu had on Tuesday termed the post-crisis as a "national calamity" and pulled up bankers for failing to effectively address the situation and solve problems of people.

His outburst had led protests from the bankers who demanded that he withdraw his remarks.

He apparently mellowed down yesterday and said he was interfering in the banking affairs only to relieve people of their troubles.

"We all should work collectively. After all we are here only to serve people," he had said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Chandrababu now terms note ban 'opportunity'

Two days after dubbing the ongoing currency crisis a "national calamity", Andhra Pradesh Chief Minister Chandrababu Naidu today termed the problems resulting from the demonetisation exercise as an "opportunity" for people to usher in a new economic regime. "This is not a crisis but an opportunity to improve our efficiency. This (demonetisation) is a historic economic reform, a new change in the country's history. We have to get used to it," Chandrababu told state government officials, District Collectors, bankers, FPS dealers and others via teleconference. The change in tone came after Chandrababu, who was critical of the move in the last three weeks, was appointed by the Centre as the convenor of a 13-member committee to look into all issues related to demonetisation. "Everyone should realise that the current troubles are only temporary and for long-term gains, we have to efficiently face them. My wish is that the current troubles should end with 2016 and 2017 should herald a new ... Two days after dubbing the ongoing currency crisis a "national calamity", Chief Minister today termed the problems resulting from the exercise as an "opportunity" for people to usher in a new economic regime.

"This is not a crisis but an opportunity to improve our efficiency. This (demonetisation) is a historic economic reform, a new change in the country's history. We have to get used to it," Chandrababu told state officials, District Collectors, bankers, FPS dealers and others via teleconference.

The change in tone came after Chandrababu, who was critical of the move in the last three weeks, was appointed by the Centre as the convenor of a 13-member committee to look into all issues related to demonetisation.

"Everyone should realise that the current troubles are only temporary and for long-term gains, we have to efficiently face them. My wish is that the current troubles should end with 2016 and 2017 should herald a new beginning," the Chief Minister said.

Chandrababu had on Tuesday termed the post-crisis as a "national calamity" and pulled up bankers for failing to effectively address the situation and solve problems of people.

His outburst had led protests from the bankers who demanded that he withdraw his remarks.

He apparently mellowed down yesterday and said he was interfering in the banking affairs only to relieve people of their troubles.

"We all should work collectively. After all we are here only to serve people," he had said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Chandrababu now terms note ban 'opportunity'

Two days after dubbing the ongoing currency crisis a "national calamity", Chief Minister today termed the problems resulting from the exercise as an "opportunity" for people to usher in a new economic regime.

"This is not a crisis but an opportunity to improve our efficiency. This (demonetisation) is a historic economic reform, a new change in the country's history. We have to get used to it," Chandrababu told state officials, District Collectors, bankers, FPS dealers and others via teleconference.

The change in tone came after Chandrababu, who was critical of the move in the last three weeks, was appointed by the Centre as the convenor of a 13-member committee to look into all issues related to demonetisation.

"Everyone should realise that the current troubles are only temporary and for long-term gains, we have to efficiently face them. My wish is that the current troubles should end with 2016 and 2017 should herald a new beginning," the Chief Minister said.

Chandrababu had on Tuesday termed the post-crisis as a "national calamity" and pulled up bankers for failing to effectively address the situation and solve problems of people.

His outburst had led protests from the bankers who demanded that he withdraw his remarks.

He apparently mellowed down yesterday and said he was interfering in the banking affairs only to relieve people of their troubles.

"We all should work collectively. After all we are here only to serve people," he had said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard