Centre forms panel to assess status of demonetisation drive

The Centre on Tuesday constituted a committee comprising Additional Secretaries, Joint Secretaries and Directors to know the status of implementation of its recent decision to scrap 500 and 1000 rupees currency notes.

The Finance Ministry in a release said, the committee will visit the States and union territories and submit its report by 25th of this month.

Each of the officers will visit different areas of the State and Union Territories separately and the focus will be on the rural areas.

The committee will submit a report on the general outlook and challenges arising out of implementation of the scheme.

The team will check the currency availability across the State in the network of bank branches, ATMs and post offices.

It will see the facilities at bank branches and post offices for deposit, withdrawal and exchange of currency.

The committee will also check the impact of the decision on various segments including households, agriculturists, wage earners, traders, transportation, industries, informal sectors and small business.