English हिन्दी
Connect with us

India News

PM Modi went for demonetisation first, RBI’s formal approval came five weeks later

Published

on

Demonetisation queue

[vc_row][vc_column][vc_column_text]

On a day when ‘#DemonetisationYaadRakhna’ (always remember demonetisation) was a top tending hashtag on Twitter to remind people of the hardships brought about by Prime Minister Narendra Modi’s sudden and drastic step, news reports based on reply to a RTI query said he had gone ahead and done it even before formal approval by the RBI central board.

The demonetisation of Rs 500 and Rs 1,000 notes, which saw 86 per cent of high-value currency going out of circulation, was announced by PM Narendra Modi on November 8, 2016.

Urjit Patel-led RBI board had met just two-and-a-half hours before Modi’s announcement, said media reports. However, the minutes of the meeting were signed by the RBI governor five weeks later on December 15, 2016.

According to the minutes of the 561st meeting of the RBI’s Central Board, which was convened hurriedly in New Delhi at 5.30 pm on November 6, the central bank’s directors described the move as “commendable” but also warned that demonetisation “will have a short-term negative effect on the GDP for the current year”, the Indian Express had reported last year.

The RBI board, which included the present Governor Shaktikanta Das as a director, had also observed that demonetisation would not have any material impact on tackling the black money menace or counterfeit currency — the prime objectives cited by the PM while announcing the move.

“It is a commendable measure but will have short-term negative effect on GDP for the current year. Most of the black money is held not in the form of cash but in the form of assets such as gold or real estate and that this move would not have a material impact on those assets,” as per the minutes posted by RTI activist Venkatesh Nayak on the website of Commonwealth Human Rights Initiative.

In another reply, the RBI revealed it had no data on the old Rs 500 and Rs 1,000 notes used to pay for utility bills such as fuel at petrol pumps — payments that are anonymous and are believed to have formed a good part of the demonetised currency that returned to the banking system.

The RBI, in its annual report for 2017-18 on August 29, 2018, said that nearly all the money that was withdrawn returned to the banking system. The RBI said it had received Rs 15.31 lakh crore of Rs 500 and Rs 1,000 notes, or 99.3 per cent of the Rs 15.417 lakh crore worth of notes which were in circulation as on November 8, 2016.

This meant that just Rs 10,720 crore of Rs 500 and Rs 1,000 notes failed to come back to the RBI, as against government expectations that well over Rs 3 lakh crore of black money would not return to the banking system.

The sudden withdrawal of notes led to a liquidity shortage and GDP growth declining close to 1.5 per cent.

Senior Congress leader Jairam Ramesh said that the RBI board had backed the move as it was “pressured” by the government. “Demonetisation, issued through a Tughlaqi farmaan (autocratic and arbitrary decision), had destroyed the Indian economy,” PTI quoted Ramesh as saying.

Ramesh said if Congress came to power all abnormal flows from legitimate tax havens and abnormal deposits in cooperative banks would be probed. “The first thing that we will do when we come to power is restore the autonomy and independence of the RBI,” he said.[/vc_column_text][/vc_column][/vc_row]

India News

PM Modi pays tribute to Atal Bihari Vajpayee at Sadaiv Atal, says leadership is defined by conduct

PM Modi paid tribute to Atal Bihari Vajpayee at Sadaiv Atal, saying true leadership is defined by conduct and values, not by position.

Published

on

PM Modi pays tribute to Atal Bihari Vajpayee at Sadaiv Atal, says leadership is defined by conduct

Prime Minister Narendra Modi on Thursday paid floral tributes to former Prime Minister Atal Bihari Vajpayee at the ‘Sadaiv Atal’ memorial in New Delhi on the occasion of his 101st birth anniversary. Remembering Vajpayee’s legacy, the Prime Minister said that true leadership is not established by position, but by conduct.

Several dignitaries were present at the memorial to pay homage to the former Prime Minister, who remains one of the most respected figures in Indian politics.

PM Modi remembers Vajpayee’s conduct and values

In a message shared on social media platform X, Prime Minister Modi described Atal Bihari Vajpayee as a statesman whose behaviour, dignity and unwavering commitment to national interest set a benchmark for Indian politics. He said Vajpayee’s life continues to inspire the nation and highlights that leadership is determined by character rather than authority.

The Prime Minister also shared a Sanskrit verse, noting that the actions of great leaders guide society, and said this principle was clearly reflected throughout Vajpayee’s public life.

‘Nation always came first for Atal ji’

Prime Minister Modi further said that Vajpayee’s birth anniversary is an opportunity for everyone to draw inspiration from his life. He highlighted Vajpayee’s conduct, grace, ideological firmness and resolve to place the nation’s interest above all else as an ideal standard for public life.

Through his life and work, Vajpayee demonstrated that excellence and greatness are shaped by values and conduct, not merely by holding office, the Prime Minister said. The remarks were shared with inputs from media.

Continue Reading

India News

Cried over Gaza, not a word on Bangladesh: Yogi Adityanath attacks opposition in UP Assembly

Yogi Adityanath criticised the opposition in the UP Assembly, accusing them of selective outrage over Gaza while remaining silent on violence against Hindus in Bangladesh.

Published

on

Yogi Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday launched a sharp attack on the Opposition during proceedings in the State Assembly, accusing rival parties of indulging in selective outrage and appeasement politics while remaining silent on incidents involving Hindus in neighbouring countries, particularly Bangladesh.

Referring to recent incidents across the border, the Chief Minister said the Opposition raises its voice on international issues selectively but avoids speaking out when minorities, especially Hindus, are targeted in nearby nations.

“You shed tears over developments in Gaza, but not a single word comes out when a Dalit youth is killed in Bangladesh,” Adityanath said in the Assembly, alleging that such silence exposes the Opposition’s political priorities.

The Chief Minister further claimed that incidents of violence against Hindus would not have occurred had Pakistan and Bangladesh not been created, reiterating that issues are often viewed through the prism of vote bank politics. He said candle marches are organised for global events, but killings of Hindus in Pakistan or Bangladesh do not evoke similar responses.

Adityanath also called for a condemnation resolution in the Assembly, stating that it should ideally come from the Leader of the Opposition. He said such a resolution should clearly condemn the killing and convey a warning to the Bangladesh government.

Allegations over illegal immigration

Targeting the Opposition on the issue of illegal immigration, the Chief Minister alleged that they support Bangladeshi nationals and Rohingyas. He claimed that when authorities take action to expel illegal immigrants, Opposition leaders come out in their defence, alleging that many of them have been facilitated with voter registrations and Aadhaar cards.

Meanwhile, tensions between India and Bangladesh have been visible following recent developments. India summoned the Bangladesh High Commissioner for the second time in a week amid concerns arising from incidents in the neighbouring country.

The summons came in the backdrop of protests in Bangladesh following the killing of student leader Sharif Osman Hadi and the lynching of Dipu Chandra Das in separate incidents. Dipu Das, a 27-year-old youth from Mymensingh district, was beaten to death by a mob over alleged blasphemy on December 18, and his body was later set on fire, triggering widespread outrage.

The Interim Government of Bangladesh condemned the incident. Education Adviser C R Abrar visited the bereaved family on behalf of the government, expressed condolences, and assured them of financial and welfare assistance. The Office of the Chief Adviser also reiterated its resolve to protect all citizens and ensure justice in the case.

The killing has once again raised concerns at the international level over the safety and security of minorities in Bangladesh, with minority groups demanding strict action against those responsible.

Continue Reading

India News

Christmas 2025 wishes for WhatsApp and Instagram status to share joy and warmth

From faith and kindness to love and joy, here are simple Christmas 2025 wishes you can use as WhatsApp and Instagram status messages.

Published

on

Merry christmas

As Christmas 2025 is being celebrated across the world, people are marking the occasion by sharing warm messages with family, friends and loved ones. The festival commemorates the birth of Jesus Christ and is observed as a time of faith, kindness and togetherness. Along with prayers, gifts and festive meals, social media platforms like WhatsApp and Instagram have become popular spaces for expressing Christmas greetings.

Christmas is traditionally associated with reflecting God’s love through generosity and compassion, while also strengthening bonds with close ones. Many people choose short, meaningful lines as their social media status to capture the spirit of the day and convey goodwill.

Here is a curated list of loving Christmas 2025 wishes that can be used as WhatsApp or Instagram status messages on the joyful occasion:

  1. Merry Christmas! May your day be filled with love, laughter and your favourite moments.
  2. Wishing you a Christmas as bright and cheerful as your smile.
  3. May your heart be full of joy and your home be filled with love this Christmas.
  4. Sending warm Christmas wishes with a touch of festive magic.
  5. Merry Christmas! May peace and happiness surround you today.
  6. It’s the most wonderful time of the year. Wishing you a Merry Christmas.
  7. May the spirit of Christmas bring love to your heart and warmth to your home.
  8. Wishing you a Christmas that is merry, bright and full of cheer.
  9. May your Christmas be rich with laughter, love and cherished traditions.
  10. Sending love, joy and the warmest Christmas wishes your way.
  11. Merry Christmas! Celebrate the day with family, friends and good food.
  12. Wishing you a Christmas filled with magic, wonder and joy.
  13. May the joy of Christmas stay with you throughout the year.
  14. Wishing you a Christmas as special as you are.
  15. Merry Christmas! Wishing happiness and good fortune always.

These short messages reflect the essence of Christmas 2025 and can be easily shared as status updates to spread positivity and festive warmth.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com