Govt. will cater to all "post-demonetization" complexities, assures Naidu

Defending the Centre from charges of being 'inconsiderate' with its 'sudden' decision to demonetise notes of Rupees 500 and 1000 and causing a massive 'inconvenience' to the common man, Union Minister for Information and Broadcasting Venkaiah Naidu on Friday stated that the preparation for the crucial step had begun a long time ago, adding that the government will help any citizen facing issues over the development.

"While the announcement to demonetize Rs 500 and 1000 notes was sudden, there was a long preparation behind it. Buses, metros, everything except black money is moving, nothing has come to a halt," Naidu said in a press conference here.

"Demonetization is a historic measure by Prime Minister Narendra Modi to curb the menace of black money and the decision was not take in isolation. With the parallel economy acquiring menacing proportions, the government has taken this decisive and bold measure," he added.

Naidu asserted that the surprise decision taken by Centre is being hailed by all except by a few vested interests.

Naidu statement comes after the Centre came under a barrage of attack from the opposition over throwing the entire nation into chaos with the sudden and massive change.

Expressing his ire on Twitter, Congress vice president Rahul Gandhi said that this step was a testimony of how little the Prime Minister cared about the ordinary people who included farmers, shopkeepers and housewives.

Echoing similar sentiments, Congress leader Shashi Tharoor asserted that the unprecedented move by the Centre looked like a hastily executed decision.

"There is a sense that the government has caught people without any chance to prepare and has given them no time. It was a matter of hours between Prime Minister Narendra Modi's announcement and the money becoming illegal," Tharoor told ANI.

The Trinamool Congress (TMC) expressed that instead of delivering his electoral promise of bringing back black money stashed abroad, Prime Minister Narendra Modi was putting pressure on the common man.

While, the Communist Party of India (Marxist) said that if Prime Minister Narendra Modi's move would have curbed the inflow and outflow of black money, then everyone would have supported it, but maintained that such was not the case.

With the ATMs opening today nearly 48 hours post Prime Minister Narendra Modi's radical announcement about scrapping of the 500 and 1000 rupees notes, long queues made by anxious citizens were seen across the nation with the new currency notes available for withdrawal.

The withdrawal limit is of 2,000 rupees per day per card for all the customers at bank ATMs.

A number of steps have been taken by bank authorities to facilitate withdrawal of money from ATMs, exchange currency at banks and withdraw money from accounts.

After November 19th limit of per day per card transaction will increase up to 4000 rupees.