TRS MP hails decision to demonetise Rs 500 and Rs 1K notes

TRS MP from Telangana B Vinod Kumar today welcomed the Centre's move to demonetise Rs 500 and Rs 1,000 currency notes but said banks should work overtime in the interest of common man.
"Prime Minister decision to ban Rs 500 and Rs 1000 currency notes is a welcoming step. Common man is welcoming it. For exchanging of notes by common man the banks should work overtime," he said.
The banks and post offices should work 24 hours with security arrangements put in place in view of the expected heavy rush of customers tomorrow, Vinod Kumar told PTI.
He also favoured linking the voluntary disclosure of income scheme with the ongoing demonetisation of Rs 500 and Rs 1,000 notes so that those having considerable amounts of unaccounted for cash (up to Rs 10 lakh or so) can deposit the money in banks now.

Such a move would benefit middle classes, especially in rural areas, who might have kept unaccounted cash for various purposes, said Kumar, who represents Karimnagar.