Cong plans sign drive against note ban at railway stations

City unit of Congress will tomorrow launch a signature campaign against demonetisation of high value currencies outside suburban railway stations.
"Due to demonetisation, black money has turned into white. Black money has not been unearthed. Scrapped notes and new notes have been seized in the raids across the country and those arrested belonged to the BJP," Nirupam told reporters.
Appealing to people to express their anger against implementation of the note ban, the Congress leader said, "the interest rates on savings have been slashed, due to which pensioners and senior citizens are incurring loss."
Nirupam said he was planning to write to Union Finance Minister Arun Jaitley against reduction of interest rate on savings.

When asked about the proposed 'bhumi pujan' (earth breaking) of Shivaji Maharaj memorial off Arabian sea, which is likely to be performed by Prime Minister Narendra Modi on December 24, Nirupam said the event is planned with an eye on upcoming BMC elections.
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Meanwhile, Nirupam has written to Jaitley seeking
instructions to Reserve Bank of India to prevail upon banks to not slash the deposit rates.
"In the days following demonetisation, there has been a rise in deposits across all banks. We have observed that all banks have cut their deposit rates by upto 0.5 per cent," he stated in the letter.

"A deposit rate cut like this will affect the interest of pensioners, retail investors and the common man. I request you to ask RBI to prevail upon banks against reducing deposit rates in this period of financial calamity. The common man is already suffering from ill effects of demonetisation on daily basis," he stated.