Unlike most of Modi’s detractors, Bihar Chief Minister Nitish Kumar extended his support to the Centre’s decision to scrap Rs.500 and Rs.1000 notes as part of a crackdown on black money.
Initially people will face some problem but this will be helpful for our economy in long run: Bihar CM Nitish Kumar pic.twitter.com/5XpC4VPClW— ANI (@ANI_news) 9 November 2016
The West Bengal government claims that the decision is unfavourable for the common people.
The JD(U) chief praising the move is in a sharp departure from the manner in which his counterpart from West Bengal Mamata Banerjee slammed the decision.
The decision of the government is aimed at tackling the problems of fake currency and black money in a single swipe. That the announcement of the same came out of the blue in itself sent those having black money on the backfoot. Announced last night, the decision sent ripples among the hoi polloi of the country who quickly scrambled to the nearest ATMs to withdraw of deposit money. The ATMs will remain closed on November 9 and 10. Banks will start operating from November 10. Withdrawals from ATMs will be restricted initially. Those having Rs.500 and Rs.1000 notes will be able to deposit their money in the bank till December 30 and subsequently till the time RBI allows. People will be able to use the money of the said denominations at petrol stations, railway/airport/bus terminals, hospitals and crematoriums, and milk booths.