Sat, Aug 19, 2017 | updated 12:13 AM IST

If there's no shortage, why banks not exchanging notes today, asks Chidambaram

Updated: Nov 19, 2016 13:11 IST      
If there's no shortage, why banks not exchanging notes today, asks Chidambaram

New Delhi [India], Nov. 19 (ANI): As banks has decided to serve only their respective customers and not to exchange the old 500 and 1,000 rupee notes from customers of other banks, former finance minister P. Chidambaram on Saturday sought to know if learned Attorney General (AG) is correct that there is no shortage of currency, then why are banks not exchanging notes today?

"If learned AG is correct that there is no shortage of currency, why are banks not exchanging notes today?" Chidambaram questioned on his official Twitter handle.

Taking a pot-shot at the Centre's claim that there was no shortage of currencies with banks, the former finance minister sought to know, "Why are we not allowed to withdraw OUR money from OUR bank/savings accounts? (sic)"

"Why are thousands of ATMs still not working?" he asked further.

Taking a dig at the government for inconveniences caused to people, Congress media committee in charge Randeep S Surjewala tweeted, "This is how #DeMonetisation is affects wheat sowing & gullible Farmer hit by an insensitive & uncaring government.

"#DeMonetisation Keeping out 370CooperativeBanks & 93000Agri. CreditSocieties from notechange has bled rural economy," Surjewala further tweeted.

Rohatgi told the court that black money destabilises economy and the country. He said over Rs 3 lakh crores have been deposited in various banks thus far and the government is expecting more Rs 11 lakh crores by December end.

Earlier, Attorney General Mukul Rohatgi had told the Supreme Court that there is no shortage of funds as Rs 100 notes are in circulation and the ATMs needed to be re-calibrated to issue new currency notes of Rs 500 and Rs 2,000.

He told the apex court that black money destabilises economy and the country. He said the government is expecting more Rs 11 lakh crores by December end. (ANI)

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