PM Narendra Modi holds top level meeting with ministers on demonetization


Prime Minister Narendra Modi held a meeting with senior ministers at his residence attended by Home Minister Rajnath Singh , Finance Minister Arun Jaitley, I&B Minister Venkaiah Naidu, Power ,coal and Mines Minister Piyush Goyal , Economics Affairs Secretary Shaktikanta Das and Top Finance Officials.

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The meeting came amid continuing chaos and growing public anger across the country over limited cash availability following the surprise demonetisation of two higher value currency notes by Modi.
Economic affairs secretary Shaktikanta Das said that the prime minister was briefed about steps already taken to improve supply of cash.
Top Points Discussed:
*Banks have been advised to increase the cash holding limit of the banking correspondents to at least 50,000 rupees.
*Banking correspondents to be permitted by banks to draw cash in a single day multiple times
*A task force is being set up to work out a strategy to expedite whole process of re calibration of the ATMs to dispense new series of Rs 500, 2000 notes.
*In the mean time the micro ATMs will be deployed in large number of areas to dispense cash against debit and credit cards.
*Currently government has given exemption to certain category of transactions where old series of 500 & 1000 notes can be accepted.
*The limit for such transactions is being extended from 14th November midnight to 24th November midnight
*There will be separate queues for senior citizens and divyang persons in banks.
*There will be separate queues for those who are visiting the banks only to exchange old series of notes for new notes.