Watch: tonight Arun Jaitley in Rajat Sharma’s show Aap Ki Adalat- disclosed decision on Rs 2000 currency note

The Reserve Bank of India’s original proposal was to issue high-value new currency notes in the denominations of Rs 5000 and Rs 10,000, but the Centre finally decided to go in for Rs 2000 currency notes, Finance Minister Arun Jaitley disclosed here today.

Jaitley was asked why the Centre decided to issue Rs 2000 currency notes despite Swami Ramdev’s demand for demonetising high-value currency notes. He said: RBI’s original proposal was to issue Rs 5,000 and Rs 10,000 currency notes, one, for (curbing) inflation and two, for convenience in handling. The government thought otherwise, because we wanted replacement currency to be available immediately, and hence we decided to go in for Rs 2000 notes.

Jaitley also revealed that a bank chairperson told him today that nearly Rs 300 crore has been deposited in Prime Minister Jan Dhan bank accounts in the last three days. “You must accept that transacting in black money is nobody’s fundamental right in this country “.

The Finance Minister cited requests from farmers’ groups, tea plantation workers, and temple managements, and said these groups had sought exemptions for transacting in demonetised Rs 500 and Rs 1000 currency notes.

As per precedent, on Nov 8 at 6 pm, RBI sent its formal recommendation to the government for demonetisation, at 7 pm the Cabinet was informed about the decision, all ministers stayed inside the room, till the Prime Minister announced it at 8 pm to the nation. As per precedent, on Nov 8 at 6 pm, RBI sent its formal recommendation to the government for demonetisation, at 7 pm the Cabinet was informed about the decision, all ministers stayed inside the room, till the Prime Minister announced it at 8 pm to the nation.

Arun Jaitley in Rajat Sharma’s show Aap Ki Adalat will be telecast tonight at 10 pm on India TV.

Updated: Nov 14, 2016 — 3:34 pm

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