Economic Affairs Secretary’s speech On Notes Ban

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Indian Economic Affairs Secretary, Mr Shaktikanta Das Addressed the Media speaking about note Ban.

Here are the highlights of his speech:

  • He told, Government has decided certain measure keeping in mind the farmers and also promoting Digital transactions across the country.
  • NABARD (National Bank for Agriculture and Rural Development) has sanctioned 21,000 crores to rural areas. This will help farmers to accustom money from district cooperative banks, for current Rabi Season.
  • To ensure that farmers get credit, the banks, NABARD, and RBI will make cash available to districts.
  • As far as RUPAY cards are concerned, all switching charges and other charges have been waived till December 31. The service providers have also agreed to waive all switching charges on all debit cards till December 31.
  • Railways have agreed to waive all service charges on online booking of rail tickets.
  • TRAI, on the other hand, has reduced USSD charges from Rs. 1.50 to 50 paise for feature phones.
  • All new government organisations and public sector facilities have been asked to use only e-payments – that is via card or digital platforms, AADHAAR enabled payments, etc.
  • According to RBI, around 80,000 ATMs out two lakh ATMs in the country have been recalibrated.

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