New Delhi: Bhartiya Janata Party (BJP) President Amit Shah today said that the decision of demonetizing old currency notes of Rs 500 and Rs 1,000 was not taken in hurry, he added that this decision was taken after consulting the Reserve Bank of India (RBI).
He said that the 50-day deadline which is ending on December 30th was fixed after much “careful planning” and most of the queues which is due to cash crunch outside ATMs and banks will get over by this deadline.
Shah added, “Nothing was kept secret from the RBI, nor was it not consulted, the decision (to demonetization Rs 500 and Rs 1000) was taken after adequate consultations by the Prime Minister of Narendra Modi at the small forum, and all administration nitty-gritty was done through. The decision was not taken in a hurry, nor was there any reason to be in a hurry.”
When media person asked about the current cash crunch, Shah said, it was because of the delay in printing new notes.
He said, “The cash crunch is because of delay in printing currency notes, and its taking time to distribute, that’s why the 50-day deadline was set. I am not saying that after 50-day deadline the queues (at banks) will be fully over, but most of the woes would be over.”
The BJP chief further said that the business at the factories will return to normalcy within tow months.