PM Modi forms Special Task Team for demonetisation feedback

New Delhi: Taking cognisance of the problems being faced by the common man due to Demonetisation, Prime Minister Narendra Modi has formed a feedback team of about 3,000 bureaucrats for analysing the problems the countrymen. The team has been given a responsibility of identifying the ground level complications that are being faced by people while withdrawing money from banks and ATMs. Apart from this special team the PM has also directed the Union Ministers to visit different states and interact with bank employees and people to know the difficulties after demonetisation.

The PM has directed the team to identify, analyse, and report the problems of common man to a special cell created in the Prime Minister’s Office (PMO) through emails and other social media platforms. The special cell of PMO would provide a comprehensive report of all states regarding the problems to the banking wing of the Finance Ministry and Reserve Bank of India.

The officials have been asked to give independent and unbiased feedback so that the problem could be quickly and easily evaded.

The dilemma of RBI:

• The Reserve Bank of India ,though has set the withdraw limit of Rs 24000 thousand for the people, the banks have been unable to provide the amount to the withdrawers.
• Due to the cash crunch in the banks they have been unable to follow the orders of RBI and the common man still remains the sufferer.
• Another reason of this cash crunch is holding of money by the households.
• According to the banking sources there are few withdrawers who come to take away cash every week despite having money at homes.
• The cash crunch is also a problem due to in-liquidity of currency. People are holding money at homes instead of spending it which has increased the unavailability of cash in the economy.
• It may be recalled the DEA secretary Shaktikanta Das had himself requested the countrymen to spend as much money as possible.