Indian Prime Minister Narendra Modi addressed his party&#39;s parliamentarians this morning, urging them to tell people that his decision to demonitise 500- and 1,000-rupee notes was meant to strike against black money and terror as the Opposition upped its ante in the Parliament asking for Modi to appear personally and answer the questions.

Sources told WION that&nbsp;Modi turned emotional while making his speech.&nbsp;

And Modi&#39;s Twitter handle has asked people to write in on the Narendra Modi app, telling him what they think of the demonetisation.&nbsp;

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I want your first-hand view on the decision taken regarding currency notes. Take part in the survey on the NM App. <a href="https://t.co/TYuxNNJfIf">https://t.co/TYuxNNJfIf</a> <a href="https://t.co/mWv2frGn3R">pic.twitter.com/mWv2frGn3R</a>
&mdash; Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/800940663244132352">November 22, 2016</a></blockquote>
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Prime Minister Modi, had on November 8, in a sudden and unexpected move, announced that India&#39;s two largest currency notes would cease to be legal tender starting that midnight.&nbsp;

His decision took about 86 per cent of Indian currency out there out of circulation and the country has been thrown out of gear ever since.&nbsp;

There have been long lines outside banks with people rushing to exchange their old currency for new but there hasn&#39;t been enough new currency to go around, there have been reports of people having trouble getting hold of medicine and groceries, and economic activity has dipped.&nbsp;

Up to 90 per cent of transactions in the country are carried out in cash.&nbsp;

Bringing back India&#39;s alleged black money, stashed in Swiss banks, had been a large part of Mr Modi&#39;s campaign before the national elections in 2014. &nbsp;

The motion to back the demonetisation was passed by Mr Modi&#39;s party, the Bharatiya Janata Party (BJP).&nbsp;

Indian finance minister Arun Jaitley meanwhile told his fellow partymen that the government would make more demonetisation-related announcements today, and that over the next few days, the government would look to redress grievances reported from the farm sector.&nbsp;

This is the wheat-growing season and the cash crunch has hit farmers hard with media reports saying they are having trouble finding the cash needed to buy seeds and fertiliser.&nbsp;

Meanwhile, the Opposition also met amongst themselves on Tuesday.&nbsp;

They have asked&nbsp;Modi to explain&nbsp;the rationale behind demonetisation in Parliament. They say the Prime Minister must explain his move in the Rajya Sabha or the Upper House, where the government is in a minority, while in the Lok Sabha or the Lower House, they want a debate followed by a vote.

They are reportedly also discussing a nationwide strike to protest the demonetisation&nbsp;and a march on the President&#39;s house.&nbsp;

(WION)

Over the next few days, the government is expected to redress grievances reported from the farm sector

Indian Prime Minister Narendra Modi addressed his party's parliamentarians this morning, urging them to tell people that his decision to demonitise 500- and 1,000-rupee notes was meant to strike against black money and terror as the Opposition upped its ante in the Parliament asking for Modi to appear personally and answer the questions. Sources told WION that Modi turned emotional while making his speech. And Modi's Twitter handle has asked people to write in on the Narendra Modi app, telling him what they think of the demonetisation. I want your first-hand view on the decision taken regarding currency notes. Take part in the survey on the NM App. https://t.co/TYuxNNJfIf pic.twitter.com/mWv2frGn3R — Narendra Modi (@narendramodi) November 22, 2016 × Prime Minister Modi, had on November 8, in a sudden and unexpected move, announced that India's two largest currency notes would cease to be legal tender starting that midnight. His decision took about 86 per cent of Indian currency out there out of circulation and the country has been thrown out of gear ever since. There have been long lines outside banks with people rushing to exchange their old currency for new but there hasn't been enough new currency to go around, there have been reports of people having trouble getting hold of medicine and groceries, and economic activity has dipped. Up to 90 per cent of transactions in the country are carried out in cash. Bringing back India's alleged black money, stashed in Swiss banks, had been a large part of Mr Modi's campaign before the national elections in 2014. The motion to back the demonetisation was passed by Mr Modi's party, the Bharatiya Janata Party (BJP). Indian finance minister Arun Jaitley meanwhile told his fellow partymen that the government would make more demonetisation-related announcements today, and that over the next few days, the government would look to redress grievances reported from the farm sector. This is the wheat-growing season and the cash crunch has hit farmers hard with media reports saying they are having trouble finding the cash needed to buy seeds and fertiliser. Meanwhile, the Opposition also met amongst themselves on Tuesday. They have asked Modi to explain the rationale behind demonetisation in Parliament. They say the Prime Minister must explain his move in the Rajya Sabha or the Upper House, where the government is in a minority, while in the Lok Sabha or the Lower House, they want a debate followed by a vote. They are reportedly also discussing a nationwide strike to protest the demonetisation and a march on the President's house. (WION)

India: Emotional PM tells party MPs to explain demonetisation to people, Opposition insists on explanation in Parliament

Leader of the Opposition in the Rajya Sabha, Ghulam Nabi Azad, said Tuesday Indian Prime Minister Narendra Modi needs to stop addressing public meetings and be present in parliament to address the concerns of the opposition and 130 crore Indian citizens.

&quot;The Prime Minister comes to Parliament, sits in his chamber, but doesn&#39;t attend either the Lok Sabha or the Rajya Sabha, which is a matter of concern not just for the Opposition, but also for the 130 crore people of this country. After all, we want to know the reason why the prime minister does not want to come to both houses, but feels free in giving speeches outside parliament,&quot; Azad told ANI.

&quot;We said the Opposition is ready for a discussion, but a prime minister who is addressing public rallies on daily basis, should at least be present in the house,&quot; he added.

Azad further said, &quot;The prime minister should have cancelled his public meeting after he got news of the Kanpur train tragedy. He should have thought that such a big accident had taken place and rescue operations to save passengers&#39; lives were still on. But, the Prime Minister commenced his meeting as he was more worried about abusing the opposition, rather than saving passengers.&quot;

Shifting his focus on the Centre&#39;s demonetisation policy, he said, &quot;Around 60 lives have been lost since the government brought into force the demonetisation policy. Children, women, elderly, farmers, and poor queue up for long time to get money. As all these lives were lost due to the wrong policy of the government, we demanded that the House should also pay tribute to them, along with the passengers who were killed in the rail mishap, but they refused.&quot;

When his response was sought on the government&#39;s claim that its drive got mass support, Azad shot back: &quot;If they are getting support of the people, then why he (PM) is shying away from making this statement in the House. Our complaint with the prime minister is that he visits abroad, addresses public meetings in Goa, Agra and other places; now Parliament is in session, but he is not attending.&quot;

&quot;The prime minister has taken such a big decision of demonetisation when parliament was not in session and that is why it becomes his prime responsibility that when parliament started functioning, he should have made statements in both houses on the very first day,&quot; he added.

Meanwhile, leaders of opposition parties will meet in Parliament at 9.30 am today.

(ANI)

'The prime minister should have cancelled his public meeting after he got news of the Kanpur train tragedy,' Ghulam Nabi Azad said

Leader of the Opposition in the Rajya Sabha, Ghulam Nabi Azad, said Tuesday Indian Prime Minister Narendra Modi needs to stop addressing public meetings and be present in parliament to address the concerns of the opposition and 130 crore Indian citizens. "The Prime Minister comes to Parliament, sits in his chamber, but doesn't attend either the Lok Sabha or the Rajya Sabha, which is a matter of concern not just for the Opposition, but also for the 130 crore people of this country. After all, we want to know the reason why the prime minister does not want to come to both houses, but feels free in giving speeches outside parliament," Azad told ANI. "We said the Opposition is ready for a discussion, but a prime minister who is addressing public rallies on daily basis, should at least be present in the house," he added. Azad further said, "The prime minister should have cancelled his public meeting after he got news of the Kanpur train tragedy. He should have thought that such a big accident had taken place and rescue operations to save passengers' lives were still on. But, the Prime Minister commenced his meeting as he was more worried about abusing the opposition, rather than saving passengers." Shifting his focus on the Centre's demonetisation policy, he said, "Around 60 lives have been lost since the government brought into force the demonetisation policy. Children, women, elderly, farmers, and poor queue up for long time to get money. As all these lives were lost due to the wrong policy of the government, we demanded that the House should also pay tribute to them, along with the passengers who were killed in the rail mishap, but they refused." When his response was sought on the government's claim that its drive got mass support, Azad shot back: "If they are getting support of the people, then why he (PM) is shying away from making this statement in the House. Our complaint with the prime minister is that he visits abroad, addresses public meetings in Goa, Agra and other places; now Parliament is in session, but he is not attending." "The prime minister has taken such a big decision of demonetisation when parliament was not in session and that is why it becomes his prime responsibility that when parliament started functioning, he should have made statements in both houses on the very first day," he added. Meanwhile, leaders of opposition parties will meet in Parliament at 9.30 am today. (ANI)

India: Come to Parliament, Opposition tells PM Modi

India&#39;s Prime Minister Narendra Modi on Sunday launched a flagship housing scheme aimed at providing affordable housing to the poor from Agra.

Called the &quot;Pradhan Mantri Gramin Awas Yojna&quot;, the scheme aims at providing houses to all people in rural areas by 2022.&nbsp;

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We want every Indian to have a house by 2022: PM Narendra Modi in Agra (Uttar Pradesh) <a href="https://t.co/CvpXMkYXwh">pic.twitter.com/CvpXMkYXwh</a>
&mdash; ANI UP (@ANINewsUP) <a href="https://twitter.com/ANINewsUP/status/800287453344985088">November 20, 2016</a></blockquote>
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The prime minister also said the scheme would generate employment in the rural areas, especially in the construction sector. Youth would be given training for building houses for the dual purpose of providing employment and building houses.&nbsp;

The houses would also be provided with free gas and electricity connections, PM Modi said while launching the scheme in Agra.

A similar scheme for the urban poor, Pradhan Mantri Shahri Awas Yojna, was launched in 2015. Uttar Pradesh goes to polls next year in January. 
 
(WION) 
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Called the ?Pradhan Mantri Gramin Awas Yojna?, the scheme aims at providing houses to all people in rural areas by 2022

India's Prime Minister Narendra Modi on Sunday launched a flagship housing scheme aimed at providing affordable housing to the poor from Agra. Called the "Pradhan Mantri Gramin Awas Yojna", the scheme aims at providing houses to all people in rural areas by 2022. We want every Indian to have a house by 2022: PM Narendra Modi in Agra (Uttar Pradesh) pic.twitter.com/CvpXMkYXwh — ANI UP (@ANINewsUP) November 20, 2016 × The prime minister also said the scheme would generate employment in the rural areas, especially in the construction sector. Youth would be given training for building houses for the dual purpose of providing employment and building houses. The houses would also be provided with free gas and electricity connections, PM Modi said while launching the scheme in Agra. A similar scheme for the urban poor, Pradhan Mantri Shahri Awas Yojna, was launched in 2015. Uttar Pradesh goes to polls next year in January. (WION)

PM Modi launches flagship housing scheme for rural India

Indian Prime Minister Narendra Modi expressed grief today over the loss of lives in the derailment of the Patna-Indore Express and announced compensation to be paid to the next of kin of those killed, and those injured in the mishap.

Modi announced an ex-gratia&nbsp;payment of Rs 2 lakh for the next of kin of those killed, and Rs 50,000 for those seriously injured in the mishap. The payments will be made&nbsp;from the Prime Minister&#39;s National Relief Fund.

This payments are over and above any assistance announced by the Railways.

96 passengers were killed and 226 injured, 76 of them seriously, when 14 coaches of the Indore-Patna Express derailed in&nbsp;Pukhraya&nbsp;-- about 60 kms&nbsp;from the industrial city of Kanpur -- in the state of Uttar Pradesh at about 3 am today.

(PTI)

The next of kin of those killed to be given Rs 2 lakh, the seriously injured to given Rs 50,000

Indian Prime Minister Narendra Modi expressed grief today over the loss of lives in the derailment of the Patna-Indore Express and announced compensation to be paid to the next of kin of those killed, and those injured in the mishap. Modi announced an ex-gratia payment of Rs 2 lakh for the next of kin of those killed, and Rs 50,000 for those seriously injured in the mishap. The payments will be made from the Prime Minister's National Relief Fund. This payments are over and above any assistance announced by the Railways. 96 passengers were killed and 226 injured, 76 of them seriously, when 14 coaches of the Indore-Patna Express derailed in Pukhraya -- about 60 kms from the industrial city of Kanpur -- in the state of Uttar Pradesh at about 3 am today. (PTI)

India Prime Minister announces compensation for victims

Prime Minister Narendra Modi on Sunday said political leaders behind multi-crore chit fund scams were attacking him after being hit hard by demonetisation. His&nbsp;remarks were seen as a&nbsp;sharp attack on West Bengal Chief Minister Mamata Banerjee&nbsp;who had been rallying political leaders against the demonetisation of Rs 500 and Rs 1000 currency notes.&nbsp;

Mamata Banerjee retorted on Twitter that the PM was accusing those who opposed his policies of corruption.

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Pradhan Mantri ji, you are equating corruption with anyone who opposes your policy. Are you the only magician? (1/2)
&mdash; Mamata Banerjee (@MamataOfficial) <a href="https://twitter.com/MamataOfficial/status/800333920243884033">November 20, 2016</a></blockquote>
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Listen to the voice of the people . Feel their pain. People will not forgive you for this. They are suffering (2/2)
&mdash; Mamata Banerjee (@MamataOfficial) <a href="https://twitter.com/MamataOfficial/status/800333995032489985">November 20, 2016</a></blockquote>
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&nbsp;

In barbs aimed apparently at Banerjee, Modi had said, &quot;I know what sort of people are raising their voice against me? Does the country not know whose money was invested in chit fund business? Lakhs and crores of poor people invested money in chit funds. But with the blessings of politicians, crores and crores of rupees have vanished.

&quot;Due to chit fund loss, hundreds of head of families were forced to commit suicide. Look at history and they are questioning me,&quot; he added.

Trinamool Congress (TMC) leaders have been implicated in chit fund scams in West Bengal.&nbsp;

He also hit out at the Congress saying governments in the past 70 years kept quiet on blackmoney because they were worried about losing power.

Modi said people would be inconvenienced only for 50 days by the government&#39;s decision&nbsp;following which the situation would normalise. &quot;I assure you your sacrifices will not go in vain,&quot; the Indian PM said.

(WION with inputs from PTI)

 
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Modi's remarks are thought to be directed at West Best Bengal Chief Minister Mamata Banerjee whose party was reportedly involved in the scam

Prime Minister Narendra Modi on Sunday said political leaders behind multi-crore chit fund scams were attacking him after being hit hard by demonetisation. His remarks were seen as a sharp attack on West Bengal Chief Minister Mamata Banerjee who had been rallying political leaders against the demonetisation of Rs 500 and Rs 1000 currency notes. Mamata Banerjee retorted on Twitter that the PM was accusing those who opposed his policies of corruption. Pradhan Mantri ji, you are equating corruption with anyone who opposes your policy. Are you the only magician? (1/2) — Mamata Banerjee (@MamataOfficial) November 20, 2016 × Listen to the voice of the people . Feel their pain. People will not forgive you for this. They are suffering (2/2) — Mamata Banerjee (@MamataOfficial) November 20, 2016 × In barbs aimed apparently at Banerjee, Modi had said, "I know what sort of people are raising their voice against me? Does the country not know whose money was invested in chit fund business? Lakhs and crores of poor people invested money in chit funds. But with the blessings of politicians, crores and crores of rupees have vanished. "Due to chit fund loss, hundreds of head of families were forced to commit suicide. Look at history and they are questioning me," he added. Trinamool Congress (TMC) leaders have been implicated in chit fund scams in West Bengal. He also hit out at the Congress saying governments in the past 70 years kept quiet on blackmoney because they were worried about losing power. Modi said people would be inconvenienced only for 50 days by the government's decision following which the situation would normalise. "I assure you your sacrifices will not go in vain," the Indian PM said. (WION with inputs from PTI)

Demonetisation: Doesn't the country know whose money was invested in chit funds? PM Modi hits back at Mamata Banerjee

A day after lauding Indian Prime Minister Narendra Modi&#39;s demonetisation decision, Microsoft founder Bill Gates took a U-turn and said he had &ldquo;no opinion&rdquo; on the issue, <a href="http://www.thehindu.com/news/national/no-opinion-on-demonetisation-decision-says-bill-gates/article9356876.ece">reported The Hindu</a>.

It happened during a media roundtable on Thursday when a reporter from The Hindu specifically asked Gates if he supported the demonetisation move. Gates, who a day before had called it a &ldquo;bold move&rdquo; and believed that it would deflate India&rsquo;s shadow economy, said, he had &ldquo;on opinion&rdquo; on the issue.

Delivering the Second Transforming India Lecture organised by NITI Aayog on Wednesday, Gates had also said that the shift to digital transactions would enhance transparency and reduce leakages.

&quot;The Prime Minister&rsquo;s bold move to demonetise high-value denominations and replace with new notes with high security features is an important step to deflate India&rsquo;s shadow economy,&rdquo; said Gates.

India, he added, &quot;has all the pieces in place for a compelling vision for digital financial inclusion. Aadhaar will convert a cumbersome, paper-based account opening process into a 30-second, all-digital system.&quot;

Modi, in a surprise decision on November 8, demonetised currency notes of Rs 500 and Rs 1,000 denomination, replacing them with new Rs 500 and Rs 2,000 bills.

(WION with inputs from PTI)

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Gates?had earlier called demonetisation a 'bold move'?and believed that it would deflate India?s shadow economy

A day after lauding Indian Prime Minister Narendra Modi's demonetisation decision, Microsoft founder Bill Gates took a U-turn and said he had “no opinion” on the issue, reported The Hindu. It happened during a media roundtable on Thursday when a reporter from The Hindu specifically asked Gates if he supported the demonetisation move. Gates, who a day before had called it a “bold move” and believed that it would deflate India’s shadow economy, said, he had “on opinion” on the issue. Delivering the Second Transforming India Lecture organised by NITI Aayog on Wednesday, Gates had also said that the shift to digital transactions would enhance transparency and reduce leakages. "The Prime Minister’s bold move to demonetise high-value denominations and replace with new notes with high security features is an important step to deflate India’s shadow economy,” said Gates. India, he added, "has all the pieces in place for a compelling vision for digital financial inclusion. Aadhaar will convert a cumbersome, paper-based account opening process into a 30-second, all-digital system." Modi, in a surprise decision on November 8, demonetised currency notes of Rs 500 and Rs 1,000 denomination, replacing them with new Rs 500 and Rs 2,000 bills. (WION with inputs from PTI)

Bill Gates takes a U-turn on demonetisation, now says he has ?no opinion? on the issue

The Election Commission of India on Friday asked the Finance Ministry not to use indelible ink in banks as it will create confusion in the state polls, reported ANI.

Grappling with unending queues and frayed tempers in banks and to check operation of syndicates, government on Tuesday decided to introduce a system of marking customers exchanging defunct currency notes with indelible ink while monitoring suspicious deposits in Jan Dhan accounts.

To stop repeat money exchangers thronging banks with invalid currency notes, banks have started applying indelible ink mark on the right hand index finger of customers in the select metro cities. SBI and few other banks in Delhi have started using indelible ink.

According to SOP released by the RBI, indelible ink can be applied by the cashier or any other official designated by the bank before the notes are given to the customer so that while the exchange of notes is taking place, a few seconds elapse which will allow the ink to dry up and prevent removal of ink.

Congress has accused the government of &quot;branding&quot; people through its &quot;fascist act&quot; of inking those exchanging demonetised currency notes even as it charged Prime Minister Narendra Modi with &quot;disrespecting&quot; Parliament by not hearing out concerns raised by members on demonetization.

(This piece first appeared in DNA)

The move will create confusion in upcoming state polls, the commission said

The Election Commission of India on Friday asked the Finance Ministry not to use indelible ink in banks as it will create confusion in the state polls, reported ANI. Grappling with unending queues and frayed tempers in banks and to check operation of syndicates, government on Tuesday decided to introduce a system of marking customers exchanging defunct currency notes with indelible ink while monitoring suspicious deposits in Jan Dhan accounts. To stop repeat money exchangers thronging banks with invalid currency notes, banks have started applying indelible ink mark on the right hand index finger of customers in the select metro cities. SBI and few other banks in Delhi have started using indelible ink. According to SOP released by the RBI, indelible ink can be applied by the cashier or any other official designated by the bank before the notes are given to the customer so that while the exchange of notes is taking place, a few seconds elapse which will allow the ink to dry up and prevent removal of ink. Congress has accused the government of "branding" people through its "fascist act" of inking those exchanging demonetised currency notes even as it charged Prime Minister Narendra Modi with "disrespecting" Parliament by not hearing out concerns raised by members on demonetization. (This piece first appeared in DNA)

Demonetisation: Don't use indelible ink in banks, Election Commission tells finance ministry

Faced with liquidity comfort, major lenders, including ICICI and HDFC Bank, today lowered FD rates by up to 0.25 per cent in view of surge in deposits following the demonetisation.

The lowering in fixed deposit rates may herald reduction in lending rate as well in the next few days.

For fixed deposit between 390 days to 2 years, the banks has lowered the interest rate by 0.15 per cent effective yesterday, ICICI Bank website showed. ICICI Bank will pay 7.10 per cent as against 7.25 per cent earlier.

Meanwhile, HDFC Bank has reduced interest rate by 0.25 per cent across all tenures on bulk deposits ranging between Rs 1-5 crore. The new rates are effective today, as per HDFC Bank website.

With the revised interest rates, the one-year fixed deposit will attract an interest rate of 6.75 per cent as against the 7 per cent earlier.

For fixed deposits between &#39;3 years 1 day-5 years&#39;, the rate has been lowered to 6.5 per cent from 6.75 per cent.

Yesterday, the country&#39;s largest lender SBI slashed fixed deposit rates on select maturities by up to 0.15 per cent.

Private lender Axis Bank has cut marginal cost of fund-based lending rate (MCLR) by 0.15-0.20 per cent.

Till yesterday, SBI collected Rs 1,14,139 crore in deposits over the last seven days after the government announced to scrap Rs 500 and Rs 1,000 notes.

(PTI)

&nbsp;

The lowering in fixed deposit rates may herald reduction in lending rate as well in the next few days

Faced with liquidity comfort, major lenders, including ICICI and HDFC Bank, today lowered FD rates by up to 0.25 per cent in view of surge in deposits following the demonetisation. The lowering in fixed deposit rates may herald reduction in lending rate as well in the next few days. For fixed deposit between 390 days to 2 years, the banks has lowered the interest rate by 0.15 per cent effective yesterday, ICICI Bank website showed. ICICI Bank will pay 7.10 per cent as against 7.25 per cent earlier. Meanwhile, HDFC Bank has reduced interest rate by 0.25 per cent across all tenures on bulk deposits ranging between Rs 1-5 crore. The new rates are effective today, as per HDFC Bank website. With the revised interest rates, the one-year fixed deposit will attract an interest rate of 6.75 per cent as against the 7 per cent earlier. For fixed deposits between '3 years 1 day-5 years', the rate has been lowered to 6.5 per cent from 6.75 per cent. Yesterday, the country's largest lender SBI slashed fixed deposit rates on select maturities by up to 0.15 per cent. Private lender Axis Bank has cut marginal cost of fund-based lending rate (MCLR) by 0.15-0.20 per cent. Till yesterday, SBI collected Rs 1,14,139 crore in deposits over the last seven days after the government announced to scrap Rs 500 and Rs 1,000 notes. (PTI)

Cash flood: ICICI, HDFC Bank cut fixed deposit rates by 0.25%

A united opposition&#39;s demand for a debate on demonetisation under a rule which entails voting today forced the adjournment of India&#39;s Lower House (Lok Sabha) for the day after the government refused to accede to their request.

The Upper House (Rajya Sabha) was also adjourned after opposition parties - led by the Congress -&nbsp;protested&nbsp;the hardship faced by the people after the Indian government decided to demonetise Rs 500 and Rs 1000 bank notes.

Parliamentarians also insisted that Prime Minister Narendra Modi be present during the discussion.

Parliamentary Affairs Minister Ananth Kumar told the Lok Sabha the government was willing to debate the issue under a rule which did not entail voting (Rule 193) since it wanted Parliament to have a united stand on the issue.

He also said people were with the government on the issue. &quot;They want black money, fake currency... To be finished. We want cooperation from you. We are ready to discuss. We do not want two voices to emerge from Parliament,&quot; he said.

Speaker Sumitra Mahajan adjourned proceedings for the day after the opposition, including the TMC, Congress, the Left, SP and RJD, refused to budge and marched into the Well of the House.

TMC leader Sudip Bandhyopadhyay, Leader of the Congress in Lok Sabha, Mallikarjun Kharge, AND RJD&#39;s Jai Prakash Narayan Yadav led the demand for an adjournment motion.

&quot;We all want a discussion under the Rule 56 so that we can know what is the stand of all parties when they vote. Then everyone will participate,&quot; Kharge said.

He said his party wanted to discuss the &quot;hardship being faced by the people&quot; and the government&#39;s failure to redress the plight.&quot;&nbsp;

Sudip Bandhopadhyay said opposition parties were together. &quot;We are in a mood to censure the government.&quot;

In the Rajya Sabha,&nbsp;pandemonium erupted after TMC&#39;&#39;s Derek O&#39;Brien asked where the prime minister was when the House discusses hardships and inconvience caused by the decision to withdraw the 500 and 1000 rupee notes.

&quot;The person who made the (demonetisation) announcement at 8 o&#39;clock on November 8, where is he,&quot; he said.

(WION with &nbsp;inputs from agencies)

The opposition demanded a response from PM Modi about the hardship caused to people by demonetisation of Rs 500, Rs 1000 notes

A united opposition's demand for a debate on demonetisation under a rule which entails voting today forced the adjournment of India's Lower House (Lok Sabha) for the day after the government refused to accede to their request. The Upper House (Rajya Sabha) was also adjourned after opposition parties - led by the Congress - protested the hardship faced by the people after the Indian government decided to demonetise Rs 500 and Rs 1000 bank notes. Parliamentarians also insisted that Prime Minister Narendra Modi be present during the discussion. Parliamentary Affairs Minister Ananth Kumar told the Lok Sabha the government was willing to debate the issue under a rule which did not entail voting (Rule 193) since it wanted Parliament to have a united stand on the issue. He also said people were with the government on the issue. "They want black money, fake currency... To be finished. We want cooperation from you. We are ready to discuss. We do not want two voices to emerge from Parliament," he said. Speaker Sumitra Mahajan adjourned proceedings for the day after the opposition, including the TMC, Congress, the Left, SP and RJD, refused to budge and marched into the Well of the House. TMC leader Sudip Bandhyopadhyay, Leader of the Congress in Lok Sabha, Mallikarjun Kharge, AND RJD's Jai Prakash Narayan Yadav led the demand for an adjournment motion. "We all want a discussion under the Rule 56 so that we can know what is the stand of all parties when they vote. Then everyone will participate," Kharge said. He said his party wanted to discuss the "hardship being faced by the people" and the government's failure to redress the plight." Sudip Bandhopadhyay said opposition parties were together. "We are in a mood to censure the government." In the Rajya Sabha, pandemonium erupted after TMC''s Derek O'Brien asked where the prime minister was when the House discusses hardships and inconvience caused by the decision to withdraw the 500 and 1000 rupee notes. "The person who made the (demonetisation) announcement at 8 o'clock on November 8, where is he," he said. (WION with inputs from agencies)

India: Both Houses of Parliament adjourned after demonetisation uproar

As&nbsp;the onset of winter session of India&#39;s parliament today, Congress, the opposition party, along with the Bahujan Samajwadi Party (BSP), demanded the setting up of a joint parliamentary committee to look into demonetisation, a move announced by Indian Prime Minister Narendra Modi last week. 
 
Ahead of the parliamentary session today, Modi had said that he was optimistic of a positive winter session, which is expected to be a fiery one post the announcement of demonetisation, and reached out to all political parties while stating that the government was ready for any debate.

&quot;In the last session an important bill like the GST was passed, it was a big step. I had thanked all parties then. In the winter session, a very positive discussion will happen on all issues with the&nbsp;contribution of all parties,&quot; said Prime Minister Modi outside the parliament.

&quot;Our government believes in discussing all issues and we are ready to debate on any topic,&quot; he added.

&quot;If your money is valid, nothing will happen to it,&quot; union minister Venkaiah Naidu said.

Congress leader Anand Sharma blamed Narendra Modi for sending a message that whole of India&#39;s economy is run on black money. He demanded an apology for allegedly mocking those waiting in queues to deposit or swap money, The Indian Express reported.&nbsp;

&quot;An atmosphere has been created by the&nbsp;government where questioning the government has become the parameter to decide one&#39;s nationalism,&quot; he said.&nbsp;

Meanwhile, Congress vice president Rahul Gandhi lashed out at Modi for making the poor suffer.

&ldquo;The masses in India are standing in queues. Do you see any rich person, a big industrialist standing in a&nbsp;queue?&rdquo; he questioned. &ldquo;Your money will be given to select 15-20 industrialists.You all know their names,&rdquo; he added.

(WION with inputs from DNA)

Criticising the government's 'ill-timed' move, opposition leaders blamed the government for being 'insensitive' towards the common man

As the onset of winter session of India's parliament today, Congress, the opposition party, along with the Bahujan Samajwadi Party (BSP), demanded the setting up of a joint parliamentary committee to look into demonetisation, a move announced by Indian Prime Minister Narendra Modi last week. Ahead of the parliamentary session today, Modi had said that he was optimistic of a positive winter session, which is expected to be a fiery one post the announcement of demonetisation, and reached out to all political parties while stating that the government was ready for any debate. "In the last session an important bill like the GST was passed, it was a big step. I had thanked all parties then. In the winter session, a very positive discussion will happen on all issues with the contribution of all parties," said Prime Minister Modi outside the parliament. "Our government believes in discussing all issues and we are ready to debate on any topic," he added. "If your money is valid, nothing will happen to it," union minister Venkaiah Naidu said. Congress leader Anand Sharma blamed Narendra Modi for sending a message that whole of India's economy is run on black money. He demanded an apology for allegedly mocking those waiting in queues to deposit or swap money, The Indian Express reported. "An atmosphere has been created by the government where questioning the government has become the parameter to decide one's nationalism," he said. Meanwhile, Congress vice president Rahul Gandhi lashed out at Modi for making the poor suffer. “The masses in India are standing in queues. Do you see any rich person, a big industrialist standing in a queue?” he questioned. “Your money will be given to select 15-20 industrialists.You all know their names,” he added. (WION with inputs from DNA)

India: 'Demonetisation in national interest,' union ministers assert

Minister of state in the Prime Minister&#39;s Office (PMO) Jitendra Singh on Wednesday hailed demonetisation as a &quot;historic&quot; decision and expressed his gratitude to the common man for imposing their conviction in Prime Minister Narendra Modi despite the initial inconvenience.

&quot;More gratifying is that in spite of initial inconvenience because of the transition period, the common man of this country is fully cooperative and confident in the courage and conviction of the honourable Prime Minister,&quot; Singh told mediapersons outside the parliament.

&quot;The government is ready for any kind of discussion in the house. The longer the discussion is, more elaborate would be its discussion and the more government will have opportunity to explain to the people of this country about the enormous advantages of this historic decision, which I believe is once in a century decision. So, the discussion is indeed welcomed from the point of view of government as well,&quot; he added while attempting to silence all critics.

The Rajya Sabha is presently discussion demonetisation on the opening day of the Winter Session. The Upper House suspended the listed business for the day on the demand by the Opposition parties, which had given notices.

Prime Minister Modi earlier today called for a healthy debate on various issues including the Goods and Services Tax (GST) during the Winter Session of Parliament.

(ANI)

The minister of state in the Prime Minister's Office expressed his gratitude to the common man for their cooperation despite inconvenience

Minister of state in the Prime Minister's Office (PMO) Jitendra Singh on Wednesday hailed demonetisation as a "historic" decision and expressed his gratitude to the common man for imposing their conviction in Prime Minister Narendra Modi despite the initial inconvenience. "More gratifying is that in spite of initial inconvenience because of the transition period, the common man of this country is fully cooperative and confident in the courage and conviction of the honourable Prime Minister," Singh told mediapersons outside the parliament. "The government is ready for any kind of discussion in the house. The longer the discussion is, more elaborate would be its discussion and the more government will have opportunity to explain to the people of this country about the enormous advantages of this historic decision, which I believe is once in a century decision. So, the discussion is indeed welcomed from the point of view of government as well," he added while attempting to silence all critics. The Rajya Sabha is presently discussion demonetisation on the opening day of the Winter Session. The Upper House suspended the listed business for the day on the demand by the Opposition parties, which had given notices. Prime Minister Modi earlier today called for a healthy debate on various issues including the Goods and Services Tax (GST) during the Winter Session of Parliament. (ANI)

Indian minister lauds nation for trusting prime minister's 'historic' demonetisation move

Indian Prime Minister Narendra Modi today said the government should not interfere with the media&#39;s functioning, but advised self-regulation by making appropriate changes with times.&nbsp;Modi was speaking on the occasion of National Press Day at the golden jubilee celebrations of Press Council of India (PCI).

He asserted&nbsp;that things will not change with external control.

Speaking about the murder of two journalists from Bihar, Modi said it was a&nbsp;very &quot;painful&quot; and &quot;most dangerous&quot; way of suppressing truth.&nbsp;

Modi also quoted Mahatma Gandhi to support his assertions seeking self-regulation by the media.

&quot;Mahatma Gandhi had said uncontrolled writing can create huge problems, but he had also said that external interference would wreak havoc. Controlling it (media) externally cannot be imagined,&quot; he asserted.

&quot;Government should not interfere.&nbsp;It is true that self-introspection is not easy... It is the responsibility of the PCI and those associated with the press to see to it that what appropriate changes you can make with time. Things do not change with external control,&quot; he said.

Modi said journalists do not get the time to make corrections due to the fast-paced nature of electronic and digital media these days, unlike in the past when they had ample time to make corrections,

He said in 1999, when the Kandahar hijack of an Indian Airlines flight took place, round-the-clock reportage of news channels showing the angry reactions of passengers&#39; relatives emboldened the terrorists, who thought they can get anything from the Indian government with this kind of public pressure.

The incident made the media introspect and devise norms for covering terror attacks, Modi said.

(WION with inputs from PTI)

Modi said there should be no government interference in the working of the media, but appropriate changes should be made with time

Indian Prime Minister Narendra Modi today said the government should not interfere with the media's functioning, but advised self-regulation by making appropriate changes with times. Modi was speaking on the occasion of National Press Day at the golden jubilee celebrations of Press Council of India (PCI). He asserted that things will not change with external control. Speaking about the murder of two journalists from Bihar, Modi said it was a very "painful" and "most dangerous" way of suppressing truth. Modi also quoted Mahatma Gandhi to support his assertions seeking self-regulation by the media. "Mahatma Gandhi had said uncontrolled writing can create huge problems, but he had also said that external interference would wreak havoc. Controlling it (media) externally cannot be imagined," he asserted. "Government should not interfere. It is true that self-introspection is not easy... It is the responsibility of the PCI and those associated with the press to see to it that what appropriate changes you can make with time. Things do not change with external control," he said. Modi said journalists do not get the time to make corrections due to the fast-paced nature of electronic and digital media these days, unlike in the past when they had ample time to make corrections, He said in 1999, when the Kandahar hijack of an Indian Airlines flight took place, round-the-clock reportage of news channels showing the angry reactions of passengers' relatives emboldened the terrorists, who thought they can get anything from the Indian government with this kind of public pressure. The incident made the media introspect and devise norms for covering terror attacks, Modi said. (WION with inputs from PTI)

Self-regulation for media, no outside control: Indian PM Narendra Modi

India and Israel today agreed to bolster their already close defence partnership and to increase cooperation in combating &quot;extremism and radicalisation&quot;, urging the international community to act tough against terror networks and states harbouring terrorists.

India&#39;s Prime Minister Narendra Modi and Israeli President Reuven Rivlin, who is on his first visit to India, also agreed to deepen their cooperation in the spheres of trade and investment, agriculture, water resources management and cyber crime, news agency PTI reported.

Rivlin, who is the first Israeli President to visit India in two decades, said his country is ready to &quot;make in India and make with India&quot;. He also hoped Modi will visit Israel soon.

&quot;We recognise that terrorism is a global challenge, knows no boundaries and has extensive links with other forms of organised crime,&quot; PM Modi told the press.

In an obvious reference to Pakistan, Modi said, &quot;Regrettably, one of the countries of its origin and spread is in India&#39;s neighbourhood. &quot;We agreed that the international community must act with resolve and determination against terror networks and States that harbour them. Failure to act and silence of speech only encourages the terrorists.&quot;

The Israeli president concurred, saying, &quot;We stand together in defending our people and our values.&quot;

India is Israel&#39;s largest buyer of military hardware and has received various weapons systems, missiles and unmanned aerial vehicles from it over the last few years. However, transactions have largely remained behind the curtains.

PM Modi said both sides had agreed to make their defence partnership &quot;more broad-based&quot; through production and manufacturing partnerships and that Rivlin&#39;s visit had given a &quot;crucial push&quot; to efforts to further strengthen bilateral ties.

He also said the two sides agreed to prioritise &quot;practical and specific engagement in the cyber domain.&quot;

Referring to Israel&#39;s expertise in micro-irrigation in drought-prone areas, the Prime Minister said and water management and conservation, and collaboration in scientific research were identified as areas for priority engagement.

&quot;Make in India and make with India&quot;&nbsp;

PM Modi said both sides agreed that India&#39;s economy offered the scope for many promising opportunities for Israeli companies to collaborate in India&#39;s flagship schemes like Make in India, Digital India, Skill India, and Smart Cities, PTI reported.

&quot;Indian and Israeli companies can also work together in high-technology manufacturing, and services sectors. Make in India and as President Rivlin told me in our discussion, Make with India can generate jobs and benefit both geographies. Our partnership can generate jobs and benefit both geographies,&quot; he said.

India&#39;s bid for UN security council membership

Modi said India was also grateful to Israel for its &quot;clear support&quot; to India&#39;s bid for permanent membership in a reformed UN Security Council.

The prime minister also spoke about the strong people-to-people ties between the two countries. He said the 2000-year old Jewish community in India represented a thriving link to this past and that the people were the &quot;biggest strength and the biggest beneficiaries&quot; of the strong Indo-Israel partnership.

&quot;Two-and-a-half decades of our friendship has brought rich dividends for both our nations. It has also strengthened voices of peace, stability and democracy globally. Your visit provides an opportunity to break new ground and shape new contours of our partnership,&quot; Modi said.

Modi may visit Tel Aviv in first part of 2017 which will be 25th year of formal diplomatic ties between the two countries, PTI reported.&nbsp;

Though it had recognised Israel in 1950, India established full diplomatic relations with the country in 1992.&nbsp;

&quot;As we approach this big milestone, we are both committed to advance our engagement on several fronts. And, build on convergences and commonalities in our interests and concerns on regional and global issues,&quot; Modi said.

Rivlin, who arrived here yesterday, was given a ceremonial reception at the President House (Rashtrapati Bhavan) earlier in the day. He also visited Raj Ghat and paid tribute to Mahatma Gandhi.&nbsp;

(WION with inputs from PTI)

The Israeli president is on a seven-day visit to India

India and Israel today agreed to bolster their already close defence partnership and to increase cooperation in combating "extremism and radicalisation", urging the international community to act tough against terror networks and states harbouring terrorists. India's Prime Minister Narendra Modi and Israeli President Reuven Rivlin, who is on his first visit to India, also agreed to deepen their cooperation in the spheres of trade and investment, agriculture, water resources management and cyber crime, news agency PTI reported. Rivlin, who is the first Israeli President to visit India in two decades, said his country is ready to "make in India and make with India". He also hoped Modi will visit Israel soon. "We recognise that terrorism is a global challenge, knows no boundaries and has extensive links with other forms of organised crime," PM Modi told the press. In an obvious reference to Pakistan, Modi said, "Regrettably, one of the countries of its origin and spread is in India's neighbourhood. "We agreed that the international community must act with resolve and determination against terror networks and States that harbour them. Failure to act and silence of speech only encourages the terrorists." The Israeli president concurred, saying, "We stand together in defending our people and our values." India is Israel's largest buyer of military hardware and has received various weapons systems, missiles and unmanned aerial vehicles from it over the last few years. However, transactions have largely remained behind the curtains. PM Modi said both sides had agreed to make their defence partnership "more broad-based" through production and manufacturing partnerships and that Rivlin's visit had given a "crucial push" to efforts to further strengthen bilateral ties. He also said the two sides agreed to prioritise "practical and specific engagement in the cyber domain." Referring to Israel's expertise in micro-irrigation in drought-prone areas, the Prime Minister said and water management and conservation, and collaboration in scientific research were identified as areas for priority engagement. "Make in India and make with India" PM Modi said both sides agreed that India's economy offered the scope for many promising opportunities for Israeli companies to collaborate in India's flagship schemes like Make in India, Digital India, Skill India, and Smart Cities, PTI reported. "Indian and Israeli companies can also work together in high-technology manufacturing, and services sectors. Make in India and as President Rivlin told me in our discussion, Make with India can generate jobs and benefit both geographies. Our partnership can generate jobs and benefit both geographies," he said. India's bid for UN security council membership Modi said India was also grateful to Israel for its "clear support" to India's bid for permanent membership in a reformed UN Security Council. The prime minister also spoke about the strong people-to-people ties between the two countries. He said the 2000-year old Jewish community in India represented a thriving link to this past and that the people were the "biggest strength and the biggest beneficiaries" of the strong Indo-Israel partnership. "Two-and-a-half decades of our friendship has brought rich dividends for both our nations. It has also strengthened voices of peace, stability and democracy globally. Your visit provides an opportunity to break new ground and shape new contours of our partnership," Modi said. Modi may visit Tel Aviv in first part of 2017 which will be 25th year of formal diplomatic ties between the two countries, PTI reported. Though it had recognised Israel in 1950, India established full diplomatic relations with the country in 1992. "As we approach this big milestone, we are both committed to advance our engagement on several fronts. And, build on convergences and commonalities in our interests and concerns on regional and global issues," Modi said. Rivlin, who arrived here yesterday, was given a ceremonial reception at the President House (Rashtrapati Bhavan) earlier in the day. He also visited Raj Ghat and paid tribute to Mahatma Gandhi. (WION with inputs from PTI)

India, Israel agree to act tough against terrorist networks, co-operate in trade and investment

Indian Prime Minister Narendra Modi&#39;s 97-year-old mother Hiraba today visited a bank at her village in Gandhinagar, just like other citizens, and exchanged her old notes in view of the demonetisation of the high-value currency notes.

Accompanied by relatives, Hiraba, who was in a wheelchair, came to a branch of Oriental Bank of Commerce at Raisan village this morning and got notes worth Rs 4,500 exchanged.

She came to the bank with Rs 500 notes, got the mandatory form filled, put her thumb impression on the form and exchanged her money.

After receiving a new note of Rs 2,000, she also displayed it in front of the mediapersons, who virtually mobbed her as they sought her reaction.

Hiraba lives with Prime Minister Modi&#39;s younger brother Pankaj Modi in Raisan on the outskirts of Gandhinagar. 
The prime minister had visited his mother on September 17 this year to take her blessings on his 66th birthday.

Hiraba is known to lead a very simple life and travels in public transport. Last time when she visited Gandhinagar civil hospital for a regular check-up, she was seen going in an autorickshaw.

Modi had on November 8 announced scrapping of Rs 500 and Rs 1,000 notes to curb black money menace.

After the announcement, people have been queueing up at banks across the country to get their old high denomination notes exchanged for the new notes.

(PTI)

His nonagenarian mother is known to lead a very simple life and is even seen travelling in public transport often

Indian Prime Minister Narendra Modi's 97-year-old mother Hiraba today visited a bank at her village in Gandhinagar, just like other citizens, and exchanged her old notes in view of the demonetisation of the high-value currency notes. Accompanied by relatives, Hiraba, who was in a wheelchair, came to a branch of Oriental Bank of Commerce at Raisan village this morning and got notes worth Rs 4,500 exchanged. She came to the bank with Rs 500 notes, got the mandatory form filled, put her thumb impression on the form and exchanged her money. After receiving a new note of Rs 2,000, she also displayed it in front of the mediapersons, who virtually mobbed her as they sought her reaction. Hiraba lives with Prime Minister Modi's younger brother Pankaj Modi in Raisan on the outskirts of Gandhinagar. The prime minister had visited his mother on September 17 this year to take her blessings on his 66th birthday. Hiraba is known to lead a very simple life and travels in public transport. Last time when she visited Gandhinagar civil hospital for a regular check-up, she was seen going in an autorickshaw. Modi had on November 8 announced scrapping of Rs 500 and Rs 1,000 notes to curb black money menace. After the announcement, people have been queueing up at banks across the country to get their old high denomination notes exchanged for the new notes. (PTI)

Indian Prime Minister Narendra Modi's mother goes to bank to exchange notes

Vowing to deliver a corruption-free country to the people, Indian Prime Minster Narendra Modi on Sunday said the government will take action all &quot;benami&quot; property.

He asked the people to endure the temporary suffering due to a cash crunch in the cities after the government&#39;s announcement on November 8 to scrap RS 500 and Rs 1,000 currency notes.&nbsp;

&quot;I have more projects in mind to make India corruption-free. I request you all to cooperate with me for 50 days to ensure this,&quot; Modi said.&nbsp;

He told a gathering in the Indian state of Goa, &quot;It is for the first time Rs 67,000 crore in black money has been deposited under amnesty scheme and a total of Rs 1,25,000 crore has been deposited in government exchequer.&quot;

The Prime Minister made an emotional appeal to the&nbsp;nation to join him in &quot;bringing back any money that was looted in India and has left Indian shores. &quot;It is our duty to find out about it&quot;, adding that he had left his home and family and dedicated his entire life to work for the nation.&nbsp;

Asking people to keep faith in his fight against graft and black money, Modi said that demonetisation will prove to be a key step to help honest citizens. &quot;Previous governments have neglected this. Did I hide anything? This is a major step to eradicate graft and black money.&quot;

Modi said the entire &quot;secret operation involved ten months of work, printing new notes&quot;, which was finally announced on November 8.

(WION with inputs from PTI) 
&nbsp;

Defending his plan to free India of corruption, Narendra Modi asked the people to cooperate in the difficult phase of transition

Vowing to deliver a corruption-free country to the people, Indian Prime Minster Narendra Modi on Sunday said the government will take action all "benami" property. He asked the people to endure the temporary suffering due to a cash crunch in the cities after the government's announcement on November 8 to scrap RS 500 and Rs 1,000 currency notes. "I have more projects in mind to make India corruption-free. I request you all to cooperate with me for 50 days to ensure this," Modi said. He told a gathering in the Indian state of Goa, "It is for the first time Rs 67,000 crore in black money has been deposited under amnesty scheme and a total of Rs 1,25,000 crore has been deposited in government exchequer." The Prime Minister made an emotional appeal to the nation to join him in "bringing back any money that was looted in India and has left Indian shores. "It is our duty to find out about it", adding that he had left his home and family and dedicated his entire life to work for the nation. Asking people to keep faith in his fight against graft and black money, Modi said that demonetisation will prove to be a key step to help honest citizens. "Previous governments have neglected this. Did I hide anything? This is a major step to eradicate graft and black money." Modi said the entire "secret operation involved ten months of work, printing new notes", which was finally announced on November 8. (WION with inputs from PTI)

Indian PM on demonetisation: Promised corruption-free India, ready to face punishment if I committed mistake

India&#39;s ruling Bhartiya Janata Party&#39;s &nbsp;president Amit Shah on Friday launched a counter-attack on the opposition asking them to clarify whether they are &nbsp;for or against demonisation, saying that he questioned the political leaders&rsquo; commitment to do the same. He asked the opposition to clarify whether they were &quot;for or against black money and terror funded by fake notes&quot;. Shah specifically called out Delhi chief minister &nbsp;Arvind Kejriwal, saying, &ldquo;Arvind Kejriwal, make clear whether you support weeding out black money.&rdquo;

 
Attacking the West Bengal chief minister Mamata Banerjee, who called the demonetisation &ldquo;draconian&rdquo;, the BJP president said, &ldquo;I know Mamata Banerjee opposed the move, but politicians shouldn&rsquo;t join ranks of black marketeers, drug dealers who are upset.&rdquo;&nbsp;

 
However, contrary to this position, back in 2014, when &nbsp;the Congress led-United Progressive Alliance government had called in for demonetisation of currency notes issued before 2005, BJP had called it an&quot;anti-poor&quot; move which would badly affect the illiterate and poor living in remote areas of the country.

 
&quot;The latest gimmick of the finance ministry to demonetise the notes, printed before 2005, is an attempt to obfuscate the issue of black money stashed outside the country... This measure is strongly anti-poor. The &#39;aam aurats&#39; and the &#39;aadmis&#39; - those who are illiterate and have no access to banking facilities will be the ones to be hit by such diversionary measures,&quot;BJP spokesperson Meenakshi Lekhi had told the media in 2014.

 
65 per cent of people in India do not have bank accounts and are living in remote areas, they store their money in cash, she had said.

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&ldquo; They will fall victim to middlemen who will scare them that the notes are worthless and charge them hefty fees to convert them. They will also be ripped off by shopkeepers,&quot; the BJP leader had claimed.

Lekhi had went on to accuse the UPA government of not being in a position to measure the correct quantum of black money as those possessing it would convert them into new currency notes.

 
&nbsp;&quot;This policy of Mr P Chidambaram is only meant for the blue blood and not for the sweating, red-blooded, toiling millions. It is not going to affect those who have numbered accounts in Swiss accounts, but will hit those who do not have any bank account even in India.&quot;, she had said.&nbsp;

 
The step is not going to affect those who have their savings in US dollars and other foreign currencies, but those who have saved in rupees, Lekhi had said.

 
It is certain that in times to come, as the debate unfolds further, BJP will have a tough time in responding to those Indians who have been drastically hit by the move as alleged by the opposition parties.&nbsp;

 
(WION) 
&nbsp;

The party had opposed the very same move in January 2014 when a Congress-led government was in power

India's ruling Bhartiya Janata Party's president Amit Shah on Friday launched a counter-attack on the opposition asking them to clarify whether they are for or against demonisation, saying that he questioned the political leaders’ commitment to do the same. He asked the opposition to clarify whether they were "for or against black money and terror funded by fake notes". Shah specifically called out Delhi chief minister Arvind Kejriwal, saying, “Arvind Kejriwal, make clear whether you support weeding out black money.” Attacking the West Bengal chief minister Mamata Banerjee, who called the demonetisation “draconian”, the BJP president said, “I know Mamata Banerjee opposed the move, but politicians shouldn’t join ranks of black marketeers, drug dealers who are upset.” However, contrary to this position, back in 2014, when the Congress led-United Progressive Alliance government had called in for demonetisation of currency notes issued before 2005, BJP had called it an"anti-poor" move which would badly affect the illiterate and poor living in remote areas of the country. "The latest gimmick of the finance ministry to demonetise the notes, printed before 2005, is an attempt to obfuscate the issue of black money stashed outside the country... This measure is strongly anti-poor. The 'aam aurats' and the 'aadmis' - those who are illiterate and have no access to banking facilities will be the ones to be hit by such diversionary measures,"BJP spokesperson Meenakshi Lekhi had told the media in 2014. 65 per cent of people in India do not have bank accounts and are living in remote areas, they store their money in cash, she had said. “ They will fall victim to middlemen who will scare them that the notes are worthless and charge them hefty fees to convert them. They will also be ripped off by shopkeepers," the BJP leader had claimed. Lekhi had went on to accuse the UPA government of not being in a position to measure the correct quantum of black money as those possessing it would convert them into new currency notes. "This policy of Mr P Chidambaram is only meant for the blue blood and not for the sweating, red-blooded, toiling millions. It is not going to affect those who have numbered accounts in Swiss accounts, but will hit those who do not have any bank account even in India.", she had said. The step is not going to affect those who have their savings in US dollars and other foreign currencies, but those who have saved in rupees, Lekhi had said. It is certain that in times to come, as the debate unfolds further, BJP will have a tough time in responding to those Indians who have been drastically hit by the move as alleged by the opposition parties. (WION)

Demonetisation: BJP says good for economy now, but had opposed in 2014

Queues outside banks grew longer as did confusion and chaos, with all cash vending machines still not functioning despite a two-day break for stocking up new currency notes.

People waited for hours to get the cash needed to meet their daily expenses as most prevalent higher denomination currency notes of Rs 500 and Rs 1000 were declared invalid.

ATMs, which reopened two days after Prime Minister Narendra Modi announced demonetisation of the two biggest currency notes, had people queueing up since early morning.

But not all of them were operating and the crowds at many of the machines grew increasingly agitated on learning that they were still inactive.

Bank officials said all ATMs should start functioning by tomorrow after old notes are removed and new Rs 500 and Rs 2000 ones stocked in them.

However, withdrawal from ATMs is limited to a maximum of Rs 2,000 per card in a day up to November 18, 2016. The limit will be raised to Rs 4,000 per day per card from November 19, 2016 onwards, bankers said.

State Bank of India, the nation&#39;s largest lender, said it could take 10 days for ATM services to settle down to normal.

There are nearly 2 lakh ATMs in the country. Many of them are configured to dispense only Rs 500 or Rs 1,000 notes and cannot dispense Rs 100 or Rs 2000 notes, so they have to be reconfigured too.

Yesterday, when banks opened after a day&#39;s break, millions rushed to deposit and swap Rs 500 and Rs 1,000 notes.

Only a maximum of Rs 4,000 per person was being exchanged at banks and select post offices.

Banks opened additional counters to exchange notes as also allow withdrawal from bank accounts through cheque or withdrawal slips with a ceiling of Rs 10,000 in a day within an overall limit of Rs 20,000 in a week (including withdrawals from ATMs) for the first fortnight i.e. Up to November 24.

Interestingly, today is the last date for old notes to be accepted as payment for water and electricity bills, government penalties, and at state-run petrol pumps, government hospitals, metros and railway tickets.

After midnight tonight, even these utility payments would have to be done in either lower denomination currency or in new currency notes, which will add to the pressure on banks and ATMs. 
Banks will work on weekend and till at least 7 pm on these days to cater to the rush.&nbsp;

(PTI) 
&nbsp;

The crowds at many of the machines grew increasingly agitated

Queues outside banks grew longer as did confusion and chaos, with all cash vending machines still not functioning despite a two-day break for stocking up new currency notes. People waited for hours to get the cash needed to meet their daily expenses as most prevalent higher denomination currency notes of Rs 500 and Rs 1000 were declared invalid. ATMs, which reopened two days after Prime Minister Narendra Modi announced demonetisation of the two biggest currency notes, had people queueing up since early morning. But not all of them were operating and the crowds at many of the machines grew increasingly agitated on learning that they were still inactive. Bank officials said all ATMs should start functioning by tomorrow after old notes are removed and new Rs 500 and Rs 2000 ones stocked in them. However, withdrawal from ATMs is limited to a maximum of Rs 2,000 per card in a day up to November 18, 2016. The limit will be raised to Rs 4,000 per day per card from November 19, 2016 onwards, bankers said. State Bank of India, the nation's largest lender, said it could take 10 days for ATM services to settle down to normal. There are nearly 2 lakh ATMs in the country. Many of them are configured to dispense only Rs 500 or Rs 1,000 notes and cannot dispense Rs 100 or Rs 2000 notes, so they have to be reconfigured too. Yesterday, when banks opened after a day's break, millions rushed to deposit and swap Rs 500 and Rs 1,000 notes. Only a maximum of Rs 4,000 per person was being exchanged at banks and select post offices. Banks opened additional counters to exchange notes as also allow withdrawal from bank accounts through cheque or withdrawal slips with a ceiling of Rs 10,000 in a day within an overall limit of Rs 20,000 in a week (including withdrawals from ATMs) for the first fortnight i.e. Up to November 24. Interestingly, today is the last date for old notes to be accepted as payment for water and electricity bills, government penalties, and at state-run petrol pumps, government hospitals, metros and railway tickets. After midnight tonight, even these utility payments would have to be done in either lower denomination currency or in new currency notes, which will add to the pressure on banks and ATMs. Banks will work on weekend and till at least 7 pm on these days to cater to the rush. (PTI)

India: Chaos, long queues at banks; many ATMs still inactive

Last week, when India&#39;s central bank ordered banks to issue more 100 rupee notes, no one had a clue that it was a precursor to one of Prime Minister Narendra Modi&#39;s boldest economic announcements - the sudden withdrawal of 500 and 1,000 rupee notes ($7.50, $15) from circulation.

It now emerges that the assault against black money was carefully planned over six months by a coterie of PM Modi&#39;s advisors sworn to secrecy, AFP reports. Only a handful of India&#39;s 1.25 billion people - finance minister Arun Jaitley, Reserve Bank of India governor and a few close officials --- were in the loop until the very last minute, AFP quotes Indian media as saying.

Behind-the-scenes: How the operation played out

The Times of India reported that many of Modi&#39;s ministers were only briefed on the plan at a cabinet meeting in New Delhi just before he addressed the nation. They were then not allowed to leave until he had finished his speech to prevent any unwanted leak.

Meanwhile, in India&#39;s commercial capital of Mumbai, RBI&#39;s bank heads had been called to the central bank in the morning to receive a locked currency chest which they were told contained notes of the new 2,000 rupee denomination.&nbsp;The chests were standard procedure for the issuing of new notes, a spokesperson for the RBI told AFP.

The RBI heads were under strict instructions not to open the chest or speak about it until later that night, a report in Mint newspaper says. It was only when they opened it, as Modi was speaking, that they learnt about the new 500 note.

With the glare of the world on the US election, Modi chose to deliver his bombshell announcement in a rare address to the nation barely three hours before the order to close banks and ATMs came into force. People scrambled to withdraw Rs 100 &nbsp;notes to meet the midnight deadline set by the RBI.

Once the queues had trudged away from the millions of ATMs around the country with now precious 100 rupee bills, the task began of refilling the machines with the new currency. Trucks laden with cash started delivering the notes across the country.

&quot;If secrecy had failed people would have invested most of their cash in Hawala rackets, gold or real estate before the announcement, worsening the black money issue,&quot; Paras Savla of Mumbai-based investment management firm KPB &amp; Associates told AFP.

RBI chief Urjit Patel has said production of the new notes had been &quot;ramped up&quot; to meet requirements but Pradip Shah, who helped set up India&#39;s HDFC bank, said it would be a &quot;nightmare&quot; getting money to some rural areas.&nbsp;&quot;A lot of people are going to be inconvenienced,&quot; he told AFP.

The move is part of Modi&#39;s crackdown on so-called black money financial transactions in which cash is used to avoid tax. After closing for a day banks started reissuing new 500 notes and a new denomination of 2,000 rupees on Thursday.

The AFP reports that by spring, the prime minister was convinced that he needed a headline-grabbing reform to show his determination to counter rampant tax evasion and settled on scrapping the two highest denomination bills.

Almost 90 percent of transactions in India are done with cash while 500 and 1,000 notes currently account for more than 85 per cent of the value of cash in circulation, according to research firm Capital Economics.

(WION with inputs from AFP) 
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Only a select few were aware of the Indian prime minister's audacious plan to issue new notes beforehand

Last week, when India's central bank ordered banks to issue more 100 rupee notes, no one had a clue that it was a precursor to one of Prime Minister Narendra Modi's boldest economic announcements - the sudden withdrawal of 500 and 1,000 rupee notes ($7.50, $15) from circulation. It now emerges that the assault against black money was carefully planned over six months by a coterie of PM Modi's advisors sworn to secrecy, AFP reports. Only a handful of India's 1.25 billion people - finance minister Arun Jaitley, Reserve Bank of India governor and a few close officials --- were in the loop until the very last minute, AFP quotes Indian media as saying. Behind-the-scenes: How the operation played out The Times of India reported that many of Modi's ministers were only briefed on the plan at a cabinet meeting in New Delhi just before he addressed the nation. They were then not allowed to leave until he had finished his speech to prevent any unwanted leak. Meanwhile, in India's commercial capital of Mumbai, RBI's bank heads had been called to the central bank in the morning to receive a locked currency chest which they were told contained notes of the new 2,000 rupee denomination. The chests were standard procedure for the issuing of new notes, a spokesperson for the RBI told AFP. The RBI heads were under strict instructions not to open the chest or speak about it until later that night, a report in Mint newspaper says. It was only when they opened it, as Modi was speaking, that they learnt about the new 500 note. With the glare of the world on the US election, Modi chose to deliver his bombshell announcement in a rare address to the nation barely three hours before the order to close banks and ATMs came into force. People scrambled to withdraw Rs 100 notes to meet the midnight deadline set by the RBI. Once the queues had trudged away from the millions of ATMs around the country with now precious 100 rupee bills, the task began of refilling the machines with the new currency. Trucks laden with cash started delivering the notes across the country. "If secrecy had failed people would have invested most of their cash in Hawala rackets, gold or real estate before the announcement, worsening the black money issue," Paras Savla of Mumbai-based investment management firm KPB & Associates told AFP. RBI chief Urjit Patel has said production of the new notes had been "ramped up" to meet requirements but Pradip Shah, who helped set up India's HDFC bank, said it would be a "nightmare" getting money to some rural areas. "A lot of people are going to be inconvenienced," he told AFP. The move is part of Modi's crackdown on so-called black money financial transactions in which cash is used to avoid tax. After closing for a day banks started reissuing new 500 notes and a new denomination of 2,000 rupees on Thursday. The AFP reports that by spring, the prime minister was convinced that he needed a headline-grabbing reform to show his determination to counter rampant tax evasion and settled on scrapping the two highest denomination bills. Almost 90 percent of transactions in India are done with cash while 500 and 1,000 notes currently account for more than 85 per cent of the value of cash in circulation, according to research firm Capital Economics. (WION with inputs from AFP)

India's rupee shake-up: A behind-the-scenes report

Huge rush and long serpentine queues were witnessed on Thursday at banks in India, which opened today after a day&#39;s break, as people jostled to exchange their 500- and 1,000-rupee notes for lower denomination bills to be able to pay for their basic needs.

With ATMs also shutting down soon after Indian Prime Minister Narendra Modi on Tuesday night announced the&nbsp;withdrawal of 500- and 1,000-rupee notes from circulation in a bid to flush out black money, citizens queued at banks to get the limited quota of cash that they are initially entitled to.

Only a few ATMs were working and most of them will be back in operation only tomorrow after the tedious job of removing the now-defunct bank notes and replacing them with lower denomination bills and new hard-to-fake Rs 500 and Rs 2,000 notes is completed.

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People complained of having to wait for a long time before they could replace old higher denomination notes or withdraw from their bank accounts using pay-in slips or cheques.

Besides banks, select post offices were also replacing old high denomination (OHD) currency notes of Rs 500 and Rs 1,000 with new Rs 2,000 banknotes.

People seemed excited after getting new Rs 2,000 notes from banks and clicked pictures holding the new banknotes in their hands.

Some, however, complained of the restrictions placed on exchanging OHD and withdrawals from the banks. Many felt the government should have done all preparations, including stocking ATMs, before announcing the decision.

Only a maximum of Rs 4,000 per person in cash irrespective of the size of the&nbsp;tender was being given per person after submission of valid identity proof. Anything over and above this value was credited to bank account.

Banks set up additional counters to change cash as also allow withdrawal from bank accounts through cheque or withdrawal slips with a ceiling of Rs 10,000 in a day within an overall limit of Rs 20,000 in a week (including withdrawals from ATMs) up to November 24.

Once the ATMs are fully functional, withdraw up to a maximum of Rs 2,000 per card per day up to November 18, 2016 will be allowed. The limit will be raised to Rs 4,000 per day per card from November 19, 2016 onwards, bankers said.

Banks have been ordered to remain open on the weekend as well as function late till 9 PM for three days beginning today to deal with the huge rush.

(PTI)

People jostled to exchange their 500- and 1,000-rupee notes for lower denomination bills

Huge rush and long serpentine queues were witnessed on Thursday at banks in India, which opened today after a day's break, as people jostled to exchange their 500- and 1,000-rupee notes for lower denomination bills to be able to pay for their basic needs. With ATMs also shutting down soon after Indian Prime Minister Narendra Modi on Tuesday night announced the withdrawal of 500- and 1,000-rupee notes from circulation in a bid to flush out black money, citizens queued at banks to get the limited quota of cash that they are initially entitled to. Only a few ATMs were working and most of them will be back in operation only tomorrow after the tedious job of removing the now-defunct bank notes and replacing them with lower denomination bills and new hard-to-fake Rs 500 and Rs 2,000 notes is completed. People are initially allowed to exchange only a limited amount of currency × People complained of having to wait for a long time before they could replace old higher denomination notes or withdraw from their bank accounts using pay-in slips or cheques. Besides banks, select post offices were also replacing old high denomination (OHD) currency notes of Rs 500 and Rs 1,000 with new Rs 2,000 banknotes. People seemed excited after getting new Rs 2,000 notes from banks and clicked pictures holding the new banknotes in their hands. Some, however, complained of the restrictions placed on exchanging OHD and withdrawals from the banks. Many felt the government should have done all preparations, including stocking ATMs, before announcing the decision. Only a maximum of Rs 4,000 per person in cash irrespective of the size of the tender was being given per person after submission of valid identity proof. Anything over and above this value was credited to bank account. Banks set up additional counters to change cash as also allow withdrawal from bank accounts through cheque or withdrawal slips with a ceiling of Rs 10,000 in a day within an overall limit of Rs 20,000 in a week (including withdrawals from ATMs) up to November 24. Once the ATMs are fully functional, withdraw up to a maximum of Rs 2,000 per card per day up to November 18, 2016 will be allowed. The limit will be raised to Rs 4,000 per day per card from November 19, 2016 onwards, bankers said. Banks have been ordered to remain open on the weekend as well as function late till 9 PM for three days beginning today to deal with the huge rush. (PTI)

India: Huge rush, serpentine queues seen at banks

The Indian indices, the BSE Sensex and the Nifty, fell fast after the opening bell Wednesday. The Sensex went into free fall and plunged by more than 1,500 points. Both the Sensex and the Nifty nosedived by almost 6 per cent.&nbsp;

The falls were expected, considering Prime Minister Narendra Modi&#39;s announcement last night that 500- and 1000-rupee notes would cease to be legal tender starting midnight. And world markets went into a panic as the possibility of a Donald Trump win in the US election began to look more and more real. &nbsp;&nbsp;

Most sectoral indices,m led by realty, consumer durables&nbsp;and auto, tumbled.

Real estate was the hardest hit. This is where people park their black money and the sector tanked after the Prime Minister&#39;s announcement.

Real estate prices were down by 15 per cent.

The major losers were DLF, Sobha Developers, India Bull Real Estate, Godrej Properties, HDIL and Unitech, down by up to 15 per cent.

The Rupee weakening against the US dollar by 23 paise to 66.85 added to the market sentiment.

Brent oil prices also dived 2.65 per cent to 44.82 per barrel in Asian trade. US S&amp;P futures plunged 4.45 per cent.&nbsp;

(WION)

Both the Sensex and the Nifty nosedived by almost 6 per cent

The Indian indices, the BSE Sensex and the Nifty, fell fast after the opening bell Wednesday. The Sensex went into free fall and plunged by more than 1,500 points. Both the Sensex and the Nifty nosedived by almost 6 per cent. The falls were expected, considering Prime Minister Narendra Modi's announcement last night that 500- and 1000-rupee notes would cease to be legal tender starting midnight. And world markets went into a panic as the possibility of a Donald Trump win in the US election began to look more and more real. Most sectoral indices,m led by realty, consumer durables and auto, tumbled. Real estate was the hardest hit. This is where people park their black money and the sector tanked after the Prime Minister's announcement. Real estate prices were down by 15 per cent. The major losers were DLF, Sobha Developers, India Bull Real Estate, Godrej Properties, HDIL and Unitech, down by up to 15 per cent. The Rupee weakening against the US dollar by 23 paise to 66.85 added to the market sentiment. Brent oil prices also dived 2.65 per cent to 44.82 per barrel in Asian trade. US S&P futures plunged 4.45 per cent. (WION)

India: Sensex crashes, falls more than 1,500 points

India&#39;s government today tried to quell the panic caused by the momentous decision to withdraw 500 and 1,000 rupee notes from circulation by assuring that replacement 500 and 2000 rupee bills would be available from Thursday.&nbsp;

India&#39;s finance minister Arun Jaitley assured that people who withdrew money from banks need not worry and only tax evaders and those with illegal &nbsp;money would lose from the move.

&quot;Housewives with small cash savings and farmers have no need to worry. People who withdraw money from the banks have nothing to worry about... All they have to do is exchange it or deposit it in the bank,&quot; Arun Jaitley said.

&quot;But if you have illegal money, then you have to give its source. If you have criminal money, then you are in serious trouble.&quot;

Customers will be able to exchange their old bills for new notes or deposit them in their accounts but face major scrutiny by tax authorities if they cannot account for a sudden increase in their balance, AFP reported. The government has also directed all banks to operate full day on Saturday and Sunday, November 12-13.

Cash machines run dry

All banks and cash machines were ordered to close on Wednesday after PM Modi&#39;s announcement that 500 and 1000 rupee notes currently in circulation would no longer be legal tender.

Major queues built up outside cash machines ahead of the midnight deadline as customers tried to withdraw 100 rupee bills. &nbsp;Many machines ran out of cash before midnight and customers had to turn away disappointed.&nbsp;

&quot;I waited for 20 minutes in a queue at the ATM outside my office,&quot; Delhi resident Puneet Raheja told AFP. &quot;The person in front of me made a total of 18 transactions on multiple ATM cards, withdrawing cash in only 100 rupee notes.&quot;

There was also a rush by motorists to gas stations, which will continue to accept the old bills until the end of the week as will transport operators and hospitals.

Impact on markets

While the move was praised by business leaders, markets fell six per cent in early trade before making a slight recovery. Stocks were around three per cent lower at lunchtime than at the opening, AFP reported.

The slide was also partially attributed to uncertainty sparked by Donald Trump winning the US presidency.

Analysts are confident that while there may be short-term hardship, the scheme will eventually ease out black money in the economy.

Girish Vanvari, a partner at KPMG in India, acknowledged there would be &quot;hardship in the transitory phase&quot; but nevertheless said the overall impact would be beneficial.

&quot;This will eventually ease out black money and corruption in the economy. This will also lead to a surge in tax collections as paying taxes will be the only way to legitimise&quot; the 500 or 1,000 notes, he said.

Sujan Hajra, an economist at the Mumbai-based brokerage firm Anand Rathi securities, told AFP there would be an instant negative impact on consumer spending that would affect consumption.

&quot;The government&#39;s demonetisation scheme will affect consumption across India as people won&#39;t have enough cash to conduct major transactions for the next few days,&quot; Hajra said.

The 500 and 1,000 notes, which are worth around $7.50 and $15, are the largest bills in use in India which is still a massively cash-intensive economy.&nbsp;

Only 2.89 per cent of Indians pay any income tax at all, India&#39;s previous finance minister told parliament in 2013.

Many small businesses only take cash to evade tax or mark-up prices to cushion the blow. The wealthy citizens channel money to tax havens and convert it into jewellery and antiques to avoid tax. Many property deals are also done in cash.

Since coming to power in 2014, Modi has unveiled a series of anti-corruption measures, including 10-year jail terms for tax evaders. A tax amnesty for Indians who report undeclared income and assets also enabled the government to recover nearly $10 billion.

(WION with inputs from AFP)

 
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ATMs ran dry and shares slid a day after PM Modi announced 500- and 1,000-rupee notes would no longer be legal tender

India's government today tried to quell the panic caused by the momentous decision to withdraw 500 and 1,000 rupee notes from circulation by assuring that replacement 500 and 2000 rupee bills would be available from Thursday. India's finance minister Arun Jaitley assured that people who withdrew money from banks need not worry and only tax evaders and those with illegal money would lose from the move. "Housewives with small cash savings and farmers have no need to worry. People who withdraw money from the banks have nothing to worry about... All they have to do is exchange it or deposit it in the bank," Arun Jaitley said. "But if you have illegal money, then you have to give its source. If you have criminal money, then you are in serious trouble." Customers will be able to exchange their old bills for new notes or deposit them in their accounts but face major scrutiny by tax authorities if they cannot account for a sudden increase in their balance, AFP reported. The government has also directed all banks to operate full day on Saturday and Sunday, November 12-13. Cash machines run dry All banks and cash machines were ordered to close on Wednesday after PM Modi's announcement that 500 and 1000 rupee notes currently in circulation would no longer be legal tender. Major queues built up outside cash machines ahead of the midnight deadline as customers tried to withdraw 100 rupee bills. Many machines ran out of cash before midnight and customers had to turn away disappointed. "I waited for 20 minutes in a queue at the ATM outside my office," Delhi resident Puneet Raheja told AFP. "The person in front of me made a total of 18 transactions on multiple ATM cards, withdrawing cash in only 100 rupee notes." There was also a rush by motorists to gas stations, which will continue to accept the old bills until the end of the week as will transport operators and hospitals. Impact on markets While the move was praised by business leaders, markets fell six per cent in early trade before making a slight recovery. Stocks were around three per cent lower at lunchtime than at the opening, AFP reported. The slide was also partially attributed to uncertainty sparked by Donald Trump winning the US presidency. Analysts are confident that while there may be short-term hardship, the scheme will eventually ease out black money in the economy. Girish Vanvari, a partner at KPMG in India, acknowledged there would be "hardship in the transitory phase" but nevertheless said the overall impact would be beneficial. "This will eventually ease out black money and corruption in the economy. This will also lead to a surge in tax collections as paying taxes will be the only way to legitimise" the 500 or 1,000 notes, he said. Sujan Hajra, an economist at the Mumbai-based brokerage firm Anand Rathi securities, told AFP there would be an instant negative impact on consumer spending that would affect consumption. "The government's demonetisation scheme will affect consumption across India as people won't have enough cash to conduct major transactions for the next few days," Hajra said. The 500 and 1,000 notes, which are worth around $7.50 and $15, are the largest bills in use in India which is still a massively cash-intensive economy. Only 2.89 per cent of Indians pay any income tax at all, India's previous finance minister told parliament in 2013. Many small businesses only take cash to evade tax or mark-up prices to cushion the blow. The wealthy citizens channel money to tax havens and convert it into jewellery and antiques to avoid tax. Many property deals are also done in cash. Since coming to power in 2014, Modi has unveiled a series of anti-corruption measures, including 10-year jail terms for tax evaders. A tax amnesty for Indians who report undeclared income and assets also enabled the government to recover nearly $10 billion. (WION with inputs from AFP)

India: Government tries to quell panic post shock rupee withdrawal

In a significant measure to counter black money and fake currency notes in the Indian economy, the government on Tuesday announced the&nbsp;scrapping of 500 and 1000 denomination currency notes.&nbsp;

Prime Minister Narendra Modi, in an address to the nation, said the decision to de-recognise the notes will come into effect from midnight November 8.&nbsp;

&quot;The currency notes of Rs 1000 and Rs 500 will be just paper with no value,&quot; said Modi.&nbsp;

He advised the people to declare any currency or cash, which would not remain legal once the order comes into effect, with the banks from November 10 till December 30, 2016.&nbsp;

For those unable to deposit their notes of Rs 1000 and Rs 500 by December 30 for some reason, they can change the notes till March 31, 2017 by furnishing ID proof.

Besides depositing money in bank accounts, the Rs 500 and Rs 1000 notes can also be exchanged with lower denomination currency notes at designated banks and post offices on production of valid government identity cards like PAN, Aadhaar and Election Card from November 10 to November 24 with a daily limit of Rs 4000.

The Prime Minister said the government had succeeded in unearthing black money to the tune of $19 billion during the last two and a half years. But emphasised that the problem of corruption is deep-rooted in the country.&nbsp;

He urged all sections of the society and the media to help make the new measures successful. He also said that the government will soon introduce&nbsp;new currency notes of Rs 2000 and Rs 500 denominations.&nbsp;

Indian broadcasting agency Prasar Bharati tweeted the images of the new currency notes that are likely to be issued soon.&nbsp;

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In Pics: New Rs 500 note that will be issued. 
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&mdash; Prasar Bharati (@prasarbharati) <a href="https://twitter.com/prasarbharati/status/796010947861037060">November 8, 2016</a></blockquote>
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The Prime Minister told that the central bank, the Reserve Bank of India has decided to shut all banks for public transactions tomorrow.&nbsp;Some ATMs will also not function tomorrow and day after as RBI stocks banks and ATM machines with lower denomination notes.&nbsp;

ATM withdrawals will be restricted to Rs 2000 per day and withdrawals from bank accounts will be limited to Rs 10,000 a day and Rs 20,000 a week.

&quot;Banks will be closed tomorrow. It will cause some hardship to you....Let us ignore these hardships... In country&#39;s history, there comes a moment when people will want to participate in the nation building and reconstruction. Very few such moments come in life,&quot; Modi said.&nbsp;

Rs 500 and Rs 1000 notes will be valid for transactions related to booking of air tickets, railway bookings, government bus ticket counters and hospitals till the midnight of November 11 and 12.

(WION)&nbsp; 
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It is the latest step by the Narendra Modi-led government to tackle the deep-rooted problem of corruption and black money

In a significant measure to counter black money and fake currency notes in the Indian economy, the government on Tuesday announced the scrapping of 500 and 1000 denomination currency notes. Prime Minister Narendra Modi, in an address to the nation, said the decision to de-recognise the notes will come into effect from midnight November 8. "The currency notes of Rs 1000 and Rs 500 will be just paper with no value," said Modi. He advised the people to declare any currency or cash, which would not remain legal once the order comes into effect, with the banks from November 10 till December 30, 2016. For those unable to deposit their notes of Rs 1000 and Rs 500 by December 30 for some reason, they can change the notes till March 31, 2017 by furnishing ID proof. Besides depositing money in bank accounts, the Rs 500 and Rs 1000 notes can also be exchanged with lower denomination currency notes at designated banks and post offices on production of valid government identity cards like PAN, Aadhaar and Election Card from November 10 to November 24 with a daily limit of Rs 4000. The Prime Minister said the government had succeeded in unearthing black money to the tune of $19 billion during the last two and a half years. But emphasised that the problem of corruption is deep-rooted in the country. He urged all sections of the society and the media to help make the new measures successful. He also said that the government will soon introduce new currency notes of Rs 2000 and Rs 500 denominations. Indian broadcasting agency Prasar Bharati tweeted the images of the new currency notes that are likely to be issued soon. In Pics: New Rs 500 note that will be issued. (Pic : ANI) pic.twitter.com/AGfAiIU4bm — Prasar Bharati (@prasarbharati) November 8, 2016 × In Pics: New Rs 2000 note that will be issued. (Pic : ANI) pic.twitter.com/WXwQRtRKl3 — Prasar Bharati (@prasarbharati) November 8, 2016 × The Prime Minister told that the central bank, the Reserve Bank of India has decided to shut all banks for public transactions tomorrow. Some ATMs will also not function tomorrow and day after as RBI stocks banks and ATM machines with lower denomination notes. ATM withdrawals will be restricted to Rs 2000 per day and withdrawals from bank accounts will be limited to Rs 10,000 a day and Rs 20,000 a week. "Banks will be closed tomorrow. It will cause some hardship to you....Let us ignore these hardships... In country's history, there comes a moment when people will want to participate in the nation building and reconstruction. Very few such moments come in life," Modi said. Rs 500 and Rs 1000 notes will be valid for transactions related to booking of air tickets, railway bookings, government bus ticket counters and hospitals till the midnight of November 11 and 12. (WION)

Indian government recalls Rs 500 and Rs 1000 denomination currency notes

Looking to strengthen trade ties with India, British Prime Minister Theresa May said Monday that Indian business travellers would be offered easier access to the UK.

Speaking at the India-UK Tech Summit in Delhi, May said: &quot;So we will offer, for the first time to any country that needs visas to enter Britain, what we called &#39;Registered Traveller Scheme&#39;.

&quot;That means the Indian nationals who frequently come to the UK and to fuel growth in both our countries, the entry process will become significantly easier,&quot; she said.

May said businessmen would have to fill fewer forms, and that they would get access to EU-EEA (European Economic Area) passport control and swifter passage through British airports.

&quot;In short, more opportunities for Britain and India and a clear message that Britain is very much open for business,&quot; she added.

May referred to the potential of the British-Indian relationship as &quot;limitless&quot;.&nbsp;

The Prime Minister&#39;s two-day visit aims to reduce trade barriers and make way for a post-Brexit free deal. &nbsp;

&quot;I will be discussing with Prime Minister Modi how we can increase the detail and depth of our trade and investment discussions, and identify what more we can do, now, to unleash our businesses, industries, exporters and investors,&quot; she said

&quot;This does not need to wait for us to leave the EU,&quot; she added.&nbsp;

The easier access deal will not to be extended to students and skilled employees.&nbsp;

Indian Prime Minister Narendra Modi, who was also at the India-UK Tech Summit, did hint at the sharp decline in Indian students studying in the UK since 2010, asking for &nbsp;&quot;greater mobility and participation of young people in educational and research opportunities&quot;.&nbsp;

(WION)

On her first visit to India, she described the potential of the British-Indian relationship as 'limitless'

Looking to strengthen trade ties with India, British Prime Minister Theresa May said Monday that Indian business travellers would be offered easier access to the UK. Speaking at the India-UK Tech Summit in Delhi, May said: "So we will offer, for the first time to any country that needs visas to enter Britain, what we called 'Registered Traveller Scheme'. "That means the Indian nationals who frequently come to the UK and to fuel growth in both our countries, the entry process will become significantly easier," she said. May said businessmen would have to fill fewer forms, and that they would get access to EU-EEA (European Economic Area) passport control and swifter passage through British airports. "In short, more opportunities for Britain and India and a clear message that Britain is very much open for business," she added. May referred to the potential of the British-Indian relationship as "limitless". The Prime Minister's two-day visit aims to reduce trade barriers and make way for a post-Brexit free deal. "I will be discussing with Prime Minister Modi how we can increase the detail and depth of our trade and investment discussions, and identify what more we can do, now, to unleash our businesses, industries, exporters and investors," she said "This does not need to wait for us to leave the EU," she added. The easier access deal will not to be extended to students and skilled employees. Indian Prime Minister Narendra Modi, who was also at the India-UK Tech Summit, did hint at the sharp decline in Indian students studying in the UK since 2010, asking for "greater mobility and participation of young people in educational and research opportunities". (WION)

Indian business travellers to be cleared faster at UK borders: Theresa May

The Indian government has derecognised 11,319 non-governmental organisations (NGOs) after they failed to renew by the end of June their registrations under the Foreign Contribution Regulations Act (FCRA) .&nbsp;

The interior ministry cited &quot;non-submission of documents or deficient documents or other statutory shortcoming within the stipulated time&quot; as the reason for the cancellation of the registrations.&nbsp;

&quot;Their validity of registration is deemed expired from November 1, 2016,&quot; a statement from they ministry said.&nbsp;

Among the derecognised organisations are about 50 orphanages, hundreds of schools and institutions like the Indian Statistical Institute, and a few other reputed NGOs that work with street children,&nbsp;reported PTI.&nbsp;

The Foreign Contribution Regulations Act 2010 requires NGOs to seek renewal of their licence every five years. Their derecognition will disallow the NGOs from receiving foreign funds.&nbsp;

The organisations have now been asked to submit their applications by November 8.&nbsp;

The ruling Narendra Modi-led government has so far cancelled registrations of more than 22,000 NGOs for various alleged lapses.

(WION with inputs from PTI)

The Narendra Modi-led government has so far cancelled the registrations of more than 22,000 NGOs for various alleged lapses

The Indian government has derecognised 11,319 non-governmental organisations (NGOs) after they failed to renew by the end of June their registrations under the Foreign Contribution Regulations Act (FCRA) . The interior ministry cited "non-submission of documents or deficient documents or other statutory shortcoming within the stipulated time" as the reason for the cancellation of the registrations. "Their validity of registration is deemed expired from November 1, 2016," a statement from they ministry said. Among the derecognised organisations are about 50 orphanages, hundreds of schools and institutions like the Indian Statistical Institute, and a few other reputed NGOs that work with street children, reported PTI. The Foreign Contribution Regulations Act 2010 requires NGOs to seek renewal of their licence every five years. Their derecognition will disallow the NGOs from receiving foreign funds. The organisations have now been asked to submit their applications by November 8. The ruling Narendra Modi-led government has so far cancelled registrations of more than 22,000 NGOs for various alleged lapses. (WION with inputs from PTI)

Indian government derecognises more than 11,000 NGOs after they fail to renew registrations

Indian Prime Minister Narendra Modi today vowed to implement Sendai Framework for Disaster Risk Reduction in Asian region, news agency Reuters reported.

&quot;We have to wholeheartedly embrace the spirit of Sendai, which calls for an all-of-society approach to disaster risk management. In India, we are committed to walk the talk on the implementation of Sendai Framework,&quot; Modi said in his inaugural address at the Asian Ministerial Conference on Disaster Risk Reduction in New Delhi.

The Sendai Framework is a 15-year global plan to combat disasters. It was adopted at the Third UN World Conference in Sendai, Japan, on March 18, 2015.

The Asian Ministerial Conference will work on formulating a plan to put the Sendai framework into motion.

&quot;The expected outcomes of the conference are an Asian regional plan for implementation of the Sendai framework. Second, a political declaration that reiterates the commitments of the governments to disaster risk reduction and also fundamentally important- stakeholder actions, statements containing various initiatives to reduce disaster risk,&quot; said United Nations secretary general&#39;s special representative for Disaster Risk Reduction, Robert Glasser, Reuters reported.

According to the United Nations, Asia-Pacific is the world&#39;s most disaster-prone region. It accounted for over half of the world&#39;s 344 disasters last year, with more than 16,000 deaths and 59 million people affected in the region alone, according to the UN.

Prime Minister Modi warned of daunting challenges due to the rapid rise of urbanisation in the region.

&quot;Urbanisation will pose greater challenges for disaster risk management, by concentrating people, property and economic activity in smaller areas, many of them in disaster-prone locations. If we do not manage this growth, in terms of both planning and execution, the risk of economic and human losses from disasters will be higher than ever before,&quot; said Modi.

(WION with inputs from Reuters)

Sendai framework is a 15-year global plan to combat disasters which was finalised in Japan last year

Indian Prime Minister Narendra Modi today vowed to implement Sendai Framework for Disaster Risk Reduction in Asian region, news agency Reuters reported. "We have to wholeheartedly embrace the spirit of Sendai, which calls for an all-of-society approach to disaster risk management. In India, we are committed to walk the talk on the implementation of Sendai Framework," Modi said in his inaugural address at the Asian Ministerial Conference on Disaster Risk Reduction in New Delhi. The Sendai Framework is a 15-year global plan to combat disasters. It was adopted at the Third UN World Conference in Sendai, Japan, on March 18, 2015. The Asian Ministerial Conference will work on formulating a plan to put the Sendai framework into motion. "The expected outcomes of the conference are an Asian regional plan for implementation of the Sendai framework. Second, a political declaration that reiterates the commitments of the governments to disaster risk reduction and also fundamentally important- stakeholder actions, statements containing various initiatives to reduce disaster risk," said United Nations secretary general's special representative for Disaster Risk Reduction, Robert Glasser, Reuters reported. According to the United Nations, Asia-Pacific is the world's most disaster-prone region. It accounted for over half of the world's 344 disasters last year, with more than 16,000 deaths and 59 million people affected in the region alone, according to the UN. Prime Minister Modi warned of daunting challenges due to the rapid rise of urbanisation in the region. "Urbanisation will pose greater challenges for disaster risk management, by concentrating people, property and economic activity in smaller areas, many of them in disaster-prone locations. If we do not manage this growth, in terms of both planning and execution, the risk of economic and human losses from disasters will be higher than ever before," said Modi. (WION with inputs from Reuters)

India: Modi vows to implement global disaster plan

Cricketer-turned-politician Imran Khan yesterday accused Pakistan Prime Minister Nawaz Sharif of pursuing his Indian counterpart Narendra Modi&rsquo;s interests in the country after the government cracked the&nbsp;whip on his supporters, news agency Press Trust of India reported.&nbsp;

&nbsp;

At least 100 supporters of Khan&#39;s Pakistan Tehreek-e-Insaf (PTI) were arrested on Sunday.&nbsp;

&nbsp;

&quot;About 450 people entered Islamabad today,&quot; Pakistan&#39;s interior minister Chaudhry Nisar Ali Khan was quoted as saying by Iran&#39;s television network, Press TV Iran.&nbsp;

&nbsp;

&quot;Police intercepted them but most of them ran away, many leaving their cars behind. Police arrested more than 100 of them,&quot; he added.&nbsp;

&nbsp;

According to media reports, police resorted to&nbsp;force and used tear-gas and baton to stop the PTI activists from reaching Bani Gala residence of Khan in Pak&#39;s capital, Islamabad. However, no PTI worker suffered serious injuries.

&nbsp;

Meanwhile, the PTI chief lashed out at the government saying: &ldquo;When Nawaz Sharif went to London for whatever kind of surgery, he on the hospital bed first telephoned Modi instead of his mother or children.&rdquo;&nbsp;

&nbsp;

Addressing a press conference outside his Bani Gala residence here, he was referring to Sharif&rsquo;s open heart surgery at a London hospital in May, news agency PTI reported.&nbsp;

&nbsp;

A day after Pakistan information minister Pervaiz Rashid was sacked over the recent &ldquo;leaked&rdquo; media report about a rift between the civilian and military leaderships on support to militancy, Khan took a jibe at the Nawaz Sharif government.&nbsp;

&nbsp;

&ldquo;Nawaz is following Modi&rsquo;s &lsquo;interests&rsquo; in Pakistan. Nawaz is behind the security leaks story which defamed the armed forces. Actually, his and Modi&rsquo;s agenda is same,&rdquo; Khan was quoted as saying.&nbsp;

&nbsp;

He claimed that &quot;everybody knows&quot; that the sacked minister cannot leak sensitive information to the media on his own.

&nbsp;

&ldquo;Rashid is a darbari (courtier) and he did what Nawaz told him to do so.&quot; &nbsp;&nbsp;

&nbsp;

&ldquo;The whole state machinery is being used to save a corrupt Prime Minister. I will not accept a &lsquo;suspect&rsquo; as Prime Minister of Pakistan. As long as I am alive I will not go after Nawaz Sharif&rsquo;s corruption,&rdquo; the 64-year-old political leader told the press.&nbsp;

&nbsp;

Khan went on to say that there was no difference between Pervez Musharraf&rsquo;s dictatorship and Sharif&rsquo;s democracy. &nbsp;

&nbsp;

Meanwhile, Islamabad police said they recovered five Kalashnikov rifles, a pistol, six magazines, a bulletproof vest, alcohol and three tear gas shells from PTI leader Amin Gandapur&rsquo;s car outside Bani Gala.

&nbsp;

&#39;Mass protests no danger to democracy&#39; &nbsp;

&nbsp;

A lockdown has been announced by&nbsp;Khan&#39;s PTI&nbsp;in a bid to create pressure on Sharif to resign over Panama Papers&#39; revelations about his family&#39;s offshore wealth.&nbsp;

&nbsp;

While talking to international news agency Reuters, Khan&nbsp;dismissed accusations that the November 2 shutdown in Islamabad can lead to a military coup.&nbsp;

&nbsp;

&quot;How can a democrat want the military to come in?,&quot; Khan&nbsp;was quoted as saying by Reuters as he dismissed allegations that he wanted the&nbsp;army to topple Sharif.&nbsp;

&nbsp;

&quot;He has to answer. He can&#39;t hide behind `democracy in danger`.&quot;&nbsp;

&nbsp;

Khan&nbsp;has pledged to bring a million people out on roads to &quot;protest against corruption&quot;.&nbsp;

&nbsp;

However, the Pakistan government has accused Khan of endangering democracy by attempting to draw Pakistan`s powerful military into a political dispute, Reuters reported.

&nbsp;

In a bid to foil the protests, the government has already blocked provincial roads to the capital and arrested around 1,000 Pakistan Tahreek-i-Insaf workers so far.&nbsp;

&nbsp;

(WION with inputs from Reuters, PTI)&nbsp; 
&nbsp;

&nbsp;

The opposition leader also accused Pakistan Prime Minister of leaking sensitive information which defamed the armed forces

Cricketer-turned-politician Imran Khan yesterday accused Pakistan Prime Minister Nawaz Sharif of pursuing his Indian counterpart Narendra Modi’s interests in the country after the government cracked the whip on his supporters, news agency Press Trust of India reported. At least 100 supporters of Khan's Pakistan Tehreek-e-Insaf (PTI) were arrested on Sunday. "About 450 people entered Islamabad today," Pakistan's interior minister Chaudhry Nisar Ali Khan was quoted as saying by Iran's television network, Press TV Iran. "Police intercepted them but most of them ran away, many leaving their cars behind. Police arrested more than 100 of them," he added. According to media reports, police resorted to force and used tear-gas and baton to stop the PTI activists from reaching Bani Gala residence of Khan in Pak's capital, Islamabad. However, no PTI worker suffered serious injuries. Meanwhile, the PTI chief lashed out at the government saying: “When Nawaz Sharif went to London for whatever kind of surgery, he on the hospital bed first telephoned Modi instead of his mother or children.” Addressing a press conference outside his Bani Gala residence here, he was referring to Sharif’s open heart surgery at a London hospital in May, news agency PTI reported. A day after Pakistan information minister Pervaiz Rashid was sacked over the recent “leaked” media report about a rift between the civilian and military leaderships on support to militancy, Khan took a jibe at the Nawaz Sharif government. “Nawaz is following Modi’s ‘interests’ in Pakistan. Nawaz is behind the security leaks story which defamed the armed forces. Actually, his and Modi’s agenda is same,” Khan was quoted as saying. He claimed that "everybody knows" that the sacked minister cannot leak sensitive information to the media on his own. “Rashid is a darbari (courtier) and he did what Nawaz told him to do so." “The whole state machinery is being used to save a corrupt Prime Minister. I will not accept a ‘suspect’ as Prime Minister of Pakistan. As long as I am alive I will not go after Nawaz Sharif’s corruption,” the 64-year-old political leader told the press. Khan went on to say that there was no difference between Pervez Musharraf’s dictatorship and Sharif’s democracy. Meanwhile, Islamabad police said they recovered five Kalashnikov rifles, a pistol, six magazines, a bulletproof vest, alcohol and three tear gas shells from PTI leader Amin Gandapur’s car outside Bani Gala. 'Mass protests no danger to democracy' A lockdown has been announced by Khan's PTI in a bid to create pressure on Sharif to resign over Panama Papers' revelations about his family's offshore wealth. While talking to international news agency Reuters, Khan dismissed accusations that the November 2 shutdown in Islamabad can lead to a military coup. "How can a democrat want the military to come in?," Khan was quoted as saying by Reuters as he dismissed allegations that he wanted the army to topple Sharif. "He has to answer. He can't hide behind `democracy in danger`." Khan has pledged to bring a million people out on roads to "protest against corruption". However, the Pakistan government has accused Khan of endangering democracy by attempting to draw Pakistan`s powerful military into a political dispute, Reuters reported. In a bid to foil the protests, the government has already blocked provincial roads to the capital and arrested around 1,000 Pakistan Tahreek-i-Insaf workers so far. (WION with inputs from Reuters, PTI)

Sharif pursuing Modi's interests in Pakistan: Imran Khan

Addressing the nation on the occasion of the Hindu festival of Diwali in his monthly programme &quot;Mann ki Baat&quot; on All India Radio on Sunday, Prime Minister Narendra Modi dedicated the festival to the Indian Army, praising them for their tireless committment and sacrifice for the nation.&nbsp;

&nbsp;

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From last few months our jawans are sacrificing their lives, we should celebrate this Diwali in their name: PM Narendra Modi <a href="https://twitter.com/hashtag/MannKiBaat?src=hash">#MannKiBaat</a>
&mdash; ANI (@ANI_news) <a href="https://twitter.com/ANI_news/status/792602418382983172">30 October 2016</a></blockquote>
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He recognised the works of all the Armed Forces, and thanked the nation for sending them Diwali messages.&nbsp;

The Prime Minister said the #Sandesh2Soldiers hashtag was flooded with well wishes &amp; love for the soldiers.&nbsp;

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Be it BSF, CRPF etc, our jawans are on duty and guarding us; that is why we are celebrating Diwali joyfully: PM Modi
&mdash; ANI (@ANI_news) <a href="https://twitter.com/ANI_news/status/792603108811509760">30 October 2016</a></blockquote>
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This is the 25th edition of the programme. Prime Minister Modi had requested people to share their thoughts and inputs for the forthcoming programme on the Narendra Modi App and MyGov Open Forum.

During the last edition of the programme, the Prime Minister had said that the nation&#39;s armed forces were fully equipped to foil any nefarious designs. He also spoke about how the Army does not talk, but speak through their valour.

(WION) 
&nbsp;

In his monthly address 'Mann ki Baat', PM Modi praised the Indian Army for safeguarding the borders

Addressing the nation on the occasion of the Hindu festival of Diwali in his monthly programme "Mann ki Baat" on All India Radio on Sunday, Prime Minister Narendra Modi dedicated the festival to the Indian Army, praising them for their tireless committment and sacrifice for the nation. From last few months our jawans are sacrificing their lives, we should celebrate this Diwali in their name: PM Narendra Modi #MannKiBaat — ANI (@ANI_news) 30 October 2016 × He recognised the works of all the Armed Forces, and thanked the nation for sending them Diwali messages. The Prime Minister said the #Sandesh2Soldiers hashtag was flooded with well wishes & love for the soldiers. Be it BSF, CRPF etc, our jawans are on duty and guarding us; that is why we are celebrating Diwali joyfully: PM Modi — ANI (@ANI_news) 30 October 2016 × This is the 25th edition of the programme. Prime Minister Modi had requested people to share their thoughts and inputs for the forthcoming programme on the Narendra Modi App and MyGov Open Forum. During the last edition of the programme, the Prime Minister had said that the nation's armed forces were fully equipped to foil any nefarious designs. He also spoke about how the Army does not talk, but speak through their valour. (WION)

Indian PM dedicates Diwali to soldiers, lauds their sacrifices in monthly radio address

Congress vice-president Rahul Gandhi on Saturday wrote a letter to&nbsp;Indian Prime Minister Narendra Modi, urging him to address the grievances of the defence forces concerning their pay&nbsp;and to reverse the recent decisions of the government regarding the disability pension that has &quot;adversely&quot; affected the &quot;morale of our armed forces&quot;.

&quot;Just days after our soldiers conducted the surgical strikes, the disability pension system was converted to a new slab system, that in many instances drastically reduces the pension received by these brave men in case of a disability,&quot; the Congress leader wrote in his letter. He was referring to a recommendation by the defence ministry for implementing the 7th Pay Commission&#39;s slab based system for determining pensions as against the current percentage-based method.&nbsp;

Defence personnel are opposed to the slab system, which determines pension on the basis of a three fixed rates&nbsp;rather than on the basis of percentage of pay. The pay commission also steeply slashed the pension rates across all ranks. These have led to a discrepancy in the pension between a defence personnel and his civilian counterpart.

The Congress vice president also urged PM Modi to implement the &quot;One Rank, One Pension&quot;&nbsp;(OROP) scheme, which calls for parity in pension for defence personnel holding the same rank, for same length of service, irrespective of the year they&nbsp;retired. OROP was accepted by the government in 2014, but has not been fully implemented so far.

&quot;OROP must be implemented in a meaningful way to satisfy ex-servicemen, and the anomalies in the 7th Pay Commission must be addressed at the earliest, because soldiers should not have to struggle to claim what is surely due to them on behalf of a grateful nation,&quot; Gandhi&nbsp;said.

Steps should be taken to send a message to soldiers on Diwali expressing &quot;our gratitude both in words and in deed&quot;, Rahul said in his letter to the PM. Modi&nbsp;launched a &nbsp;&quot;#Sandesh2Soldiers&quot;&nbsp;campaign, through which people can send their Diwali greetings and messages to soldiers guarding the nation&#39;s borders. People can send messages&nbsp;on the Narendra Modi App, through MyGov.in, and also through All India Radio.&nbsp; 
 
&quot;As a responsible democracy we must make sure that the brave soldiers who put their lives on the line for each one of us, feel the love, support and gratitude of 125 crore people,&quot; Rahul said.&nbsp;

The Congress scion says the recommendations of the 7th Pay Commission, which came into effect, from January 1, 2016, continue to keep the defence forces at a disadvantage, further exacerbating the disparity between them and civil employees.&nbsp;

The 7th Pay Commission has recommended a similar pay structure at the entry level for both civilian and military services, which is not acceptable to the armed forces.&nbsp;

&quot;I therefore urge you Prime Minister to ensure that our soldiers get their due&nbsp;whether it is regarding compensation, disability pension, or parity with civil employees,&quot; he said.

PM Modi had earlier accused the Congress of not taking the OROP issue seriously by earmarking a mere Rs 500 crore for the scheme.

He will celebrate this Diwali with personnel of the Indo Tibetan Border Police (ITBP) at a remote border post in the state of Uttarakhand, PTI reported.

&nbsp;

Don&#39;t subject army to &#39;petty politics&#39;: Government to Rahul

The government on Saturday dismissed Rahul Gandhi&#39;s accusations about the One Rank One Pay (OROP) and the disability pension, with Union Minister Ravi Shankar Prasad asking him not to subject the army to &quot;petty politics for partisan gains&quot;.

Prasad said equivalence has been in force since 1998-99 and &quot;no new policy initiative undertaken taken by the Narendra Modi government in this regard&quot;.

He said that as far as pension payment on slab system is concerned, it was a recommendation of the Pay Review Committee which the government had not accepted and the percentage system of calculating pension would continue till the anomaly commitee gave its recommendations.

&quot;The government has referred this issue to the anomaly committee. Till the time the anomaly committee gives a recommendation, the payment of pension on percentage basis shall continue,&quot; Prasad said.

&nbsp;

Government reverses recommendation on disability pension

The same day that Rahul Gandhi shot off his letter to PM Modi, the defence ministry said armed forces personnel would continue to get such pension based on percentage system till the Anomaly Committee came out with its report, PTI reported.

A letter issued by the ministry on September 30, introducing the slab-based system recommended by the 7th Pay Commission, was widely criticised by opposition parties and the military.

Following this, the Ministry had referred the matter to the Anomaly Committee. A percentage-based system for calculating disability pension for both defence personnel as well as civilians has been followed as per &nbsp;the 6th Pay Commission recommendations.

(WION with inputs from PTI)

The Congress vice president wrote to Narendra Modi asking him to take measures to ensure that Indian soldiers remain economically secure

Congress vice-president Rahul Gandhi on Saturday wrote a letter to Indian Prime Minister Narendra Modi, urging him to address the grievances of the defence forces concerning their pay and to reverse the recent decisions of the government regarding the disability pension that has "adversely" affected the "morale of our armed forces". "Just days after our soldiers conducted the surgical strikes, the disability pension system was converted to a new slab system, that in many instances drastically reduces the pension received by these brave men in case of a disability," the Congress leader wrote in his letter. He was referring to a recommendation by the defence ministry for implementing the 7th Pay Commission's slab based system for determining pensions as against the current percentage-based method. Defence personnel are opposed to the slab system, which determines pension on the basis of a three fixed rates rather than on the basis of percentage of pay. The pay commission also steeply slashed the pension rates across all ranks. These have led to a discrepancy in the pension between a defence personnel and his civilian counterpart. The Congress vice president also urged PM Modi to implement the "One Rank, One Pension" (OROP) scheme, which calls for parity in pension for defence personnel holding the same rank, for same length of service, irrespective of the year they retired. OROP was accepted by the government in 2014, but has not been fully implemented so far. "OROP must be implemented in a meaningful way to satisfy ex-servicemen, and the anomalies in the 7th Pay Commission must be addressed at the earliest, because soldiers should not have to struggle to claim what is surely due to them on behalf of a grateful nation," Gandhi said. Steps should be taken to send a message to soldiers on Diwali expressing "our gratitude both in words and in deed", Rahul said in his letter to the PM. Modi launched a "#Sandesh2Soldiers" campaign, through which people can send their Diwali greetings and messages to soldiers guarding the nation's borders. People can send messages on the Narendra Modi App, through MyGov.in, and also through All India Radio. "As a responsible democracy we must make sure that the brave soldiers who put their lives on the line for each one of us, feel the love, support and gratitude of 125 crore people," Rahul said. The Congress scion says the recommendations of the 7th Pay Commission, which came into effect, from January 1, 2016, continue to keep the defence forces at a disadvantage, further exacerbating the disparity between them and civil employees. The 7th Pay Commission has recommended a similar pay structure at the entry level for both civilian and military services, which is not acceptable to the armed forces. "I therefore urge you Prime Minister to ensure that our soldiers get their due whether it is regarding compensation, disability pension, or parity with civil employees," he said. PM Modi had earlier accused the Congress of not taking the OROP issue seriously by earmarking a mere Rs 500 crore for the scheme. He will celebrate this Diwali with personnel of the Indo Tibetan Border Police (ITBP) at a remote border post in the state of Uttarakhand, PTI reported. Don't subject army to 'petty politics': Government to Rahul The government on Saturday dismissed Rahul Gandhi's accusations about the One Rank One Pay (OROP) and the disability pension, with Union Minister Ravi Shankar Prasad asking him not to subject the army to "petty politics for partisan gains". Prasad said equivalence has been in force since 1998-99 and "no new policy initiative undertaken taken by the Narendra Modi government in this regard". He said that as far as pension payment on slab system is concerned, it was a recommendation of the Pay Review Committee which the government had not accepted and the percentage system of calculating pension would continue till the anomaly commitee gave its recommendations. "The government has referred this issue to the anomaly committee. Till the time the anomaly committee gives a recommendation, the payment of pension on percentage basis shall continue," Prasad said. Government reverses recommendation on disability pension The same day that Rahul Gandhi shot off his letter to PM Modi, the defence ministry said armed forces personnel would continue to get such pension based on percentage system till the Anomaly Committee came out with its report, PTI reported. A letter issued by the ministry on September 30, introducing the slab-based system recommended by the 7th Pay Commission, was widely criticised by opposition parties and the military. Following this, the Ministry had referred the matter to the Anomaly Committee. A percentage-based system for calculating disability pension for both defence personnel as well as civilians has been followed as per the 6th Pay Commission recommendations. (WION with inputs from PTI)

Rahul Gandhi's Diwali wish for Indian PM Modi: Implement 'one rank, one pension' scheme for Army

India&#39;s ruling party Bharatiya Janta Party (BJP) member of parliament&nbsp;Subramanian Swamy has demanded constitution of a multi-agency special investigation team (SIT) to probe allegations of &quot;certain fraudulent transactions&quot; in Air Asia levelled by Cyrus Mistry following his removal as chairman of Tata Group.&nbsp;

Swamy, in a letter to Indian Prime Minister Narendra Modi, has said the SIT should comprise officials from CBI, Enforcement Directorate and SEBI as the charges involved a gamut of offences.&nbsp;

The Rajya Sabha MP recalled that he had in an earlier letter to Modi questioned Ratan Tata&#39;s role as Indian partner in Air Asia and Vistara Airlines &quot;in complete violation&quot; of the laws of the country.&nbsp;

Hot on the heels of Mistry&#39;s ouster alleging fraudulent transactions at AirAsia India, India&#39;s civil aviation ministry had said all issues will be looked into and &quot;the law of the land will have to be followed&quot;.&nbsp;

(PTI)

In a letter written to Tata Sons, Mistry had raised 'ethical concerns' in Tata group's aviation joint venture with AirAsia

India's ruling party Bharatiya Janta Party (BJP) member of parliament Subramanian Swamy has demanded constitution of a multi-agency special investigation team (SIT) to probe allegations of "certain fraudulent transactions" in Air Asia levelled by Cyrus Mistry following his removal as chairman of Tata Group. Swamy, in a letter to Indian Prime Minister Narendra Modi, has said the SIT should comprise officials from CBI, Enforcement Directorate and SEBI as the charges involved a gamut of offences. The Rajya Sabha MP recalled that he had in an earlier letter to Modi questioned Ratan Tata's role as Indian partner in Air Asia and Vistara Airlines "in complete violation" of the laws of the country. Hot on the heels of Mistry's ouster alleging fraudulent transactions at AirAsia India, India's civil aviation ministry had said all issues will be looked into and "the law of the land will have to be followed". (PTI)

India: BJP leader asks PM Modi to form investigation team to probe Tatas

As the rift in the ruling Samajwadi Party of Uttar Pradesh deepened, chief minister Akhilesh Yadav was reprimanded by his father and party supremo, Mulayam Singh Yadav at a party meeting held in state capital Lucknow today. The meeting was held&nbsp;a day after the chief minister&nbsp;sacked uncle and senior party leader, Shivpal Yadav from the cabinet.

&nbsp;

In a stern warning to son Akhilesh, Mulayam said the former &quot;has lost his mind&quot; after getting the chief minister&#39;s chair. &quot;Drunkards, goons have been added to the party. You get some power and it goes to your head. Few leaders know nothing except flattery. Some ministers are just busy being sycophants and the people who can&#39;t think big, can&#39;t be a minister,&quot; he was quoted as saying by Indian news agency ANI.&nbsp;

&nbsp;

Mulayam also gave Indian Prime Minister Narendra Modi&#39;s example to him saying: &quot;Look at Prime Minister Modi, he became the PM with dedication and struggle. He comes from a poor family, says he can&#39;t leave his mother.&quot;&nbsp;

&nbsp;

The &nbsp;party meeting at the Lucknow party office&nbsp;witnessed a&nbsp;heating exchange between the members of state&#39;s first family with state elections just a couple of months away in the northern state.&nbsp;

&nbsp;

&quot;I am extremely upset with the rift within the party. I know it&#39;s a difficult situation. Those who can&#39;t take criticism cannot become leaders,&quot; Mulayam said.&nbsp;

&nbsp;

&quot;We are fighting among ourselves. We should decrease our differences. Those who are indulging in sloganeering will be thrown out of the party. I have given respect to the youth and no one else,&quot; he added.

&nbsp;

Earlier in the day, protests erupted outside Lucknow party office between the loyalists of the chief minister and Shivpal Yadav. This is the second time that Shivpal has been sacked from the party.&nbsp;

 
Indian PM urges electorate to get rid of regional parties &nbsp;

As he addressed a rally in in Mahoba, a district in Bundelkhand area of UP, Indian Prime Minister today urged the people to break the cycle of the regional parties --Samajwadi Party and Bahujan Samaj Party -- getting elected again and again in the state, ANI reported.&nbsp;

&nbsp;

Saying that people should try to make Uttar Pradesh an &quot;Uttam (best) Pradesh&quot;, Modi said: &quot;The Samajwadi Party and Bahujan Samaj Party both loot in their own turns, and when the other comes to power they never take action against the other. SP-BSP-BSP-SP. The power keeps shifting, and in this game, this land never reached its potential. You have faced enough. If you want to escape this trap then you need to get out of this trap of Samajwadi Party and Bahujan Samaj Party. Let&#39;s break the cycle of SP-BSP and choose instead to make Uttar Pradesh an &quot;Uttam Pradesh&quot;. &quot;

&nbsp;

Escalating his attack on the Samajwadi Party, the Prime Minister said the farmers in Mahoba have faced grave injustice as this land is capable of reaping gold but farmers got no water.

&nbsp;

(WION with inputs from ANI)&nbsp;

Mulayam hailed Indian PM for his leadership skills, but Modi said the ruling party 'looted' Uttar Pradesh during its tenure

As the rift in the ruling Samajwadi Party of Uttar Pradesh deepened, chief minister Akhilesh Yadav was reprimanded by his father and party supremo, Mulayam Singh Yadav at a party meeting held in state capital Lucknow today. The meeting was held a day after the chief minister sacked uncle and senior party leader, Shivpal Yadav from the cabinet. In a stern warning to son Akhilesh, Mulayam said the former "has lost his mind" after getting the chief minister's chair. "Drunkards, goons have been added to the party. You get some power and it goes to your head. Few leaders know nothing except flattery. Some ministers are just busy being sycophants and the people who can't think big, can't be a minister," he was quoted as saying by Indian news agency ANI. Mulayam also gave Indian Prime Minister Narendra Modi's example to him saying: "Look at Prime Minister Modi, he became the PM with dedication and struggle. He comes from a poor family, says he can't leave his mother." The party meeting at the Lucknow party office witnessed a heating exchange between the members of state's first family with state elections just a couple of months away in the northern state. "I am extremely upset with the rift within the party. I know it's a difficult situation. Those who can't take criticism cannot become leaders," Mulayam said. "We are fighting among ourselves. We should decrease our differences. Those who are indulging in sloganeering will be thrown out of the party. I have given respect to the youth and no one else," he added. Earlier in the day, protests erupted outside Lucknow party office between the loyalists of the chief minister and Shivpal Yadav. This is the second time that Shivpal has been sacked from the party. Indian PM urges electorate to get rid of regional parties As he addressed a rally in in Mahoba, a district in Bundelkhand area of UP, Indian Prime Minister today urged the people to break the cycle of the regional parties --Samajwadi Party and Bahujan Samaj Party -- getting elected again and again in the state, ANI reported. Saying that people should try to make Uttar Pradesh an "Uttam (best) Pradesh", Modi said: "The Samajwadi Party and Bahujan Samaj Party both loot in their own turns, and when the other comes to power they never take action against the other. SP-BSP-BSP-SP. The power keeps shifting, and in this game, this land never reached its potential. You have faced enough. If you want to escape this trap then you need to get out of this trap of Samajwadi Party and Bahujan Samaj Party. Let's break the cycle of SP-BSP and choose instead to make Uttar Pradesh an "Uttam Pradesh". " Escalating his attack on the Samajwadi Party, the Prime Minister said the farmers in Mahoba have faced grave injustice as this land is capable of reaping gold but farmers got no water. (WION with inputs from ANI)

SP turf war: Modi attacks Samajwadi Party after Mulayam gives Indian PM's example to son

Prime Minister Narendra Modi on Sunday kept up India&#39;s efforts to diplomatically isolate Pakistan when he used the forum of the 8th BRICS Summit at Goa to urge the international community to lean on purveyors of terror who justify the use terrorism for political gains.

Without naming Pakistan, he said that the &quot;mother ship&quot; of terrorism &quot;is a country in India&rsquo;s neighbourhood&quot; and that terror modules of the world were linked to that particular country. In the same vein, he called for actions against the &quot;hardware of terrorism&quot;, including, but not limited to, terror financing, supply of weapons and training. 
&nbsp; 
In a double-barrelled attack, Mr Modi also obliquely took a swipe at China which employed the exact phrase (&quot;political gains&quot;) to justify its opposition to a United Nations ban on Jaish-e-Mohammed chief Masood Azhar, who New Delhi accuses of having had a hand in a series of terrorist attacks in India, including the September 18 attack at Uri in Jammu and Kashmir. On October 10, China&#39;s Vice Foreign Minister Li Baodong had said about India that no country should &quot;pursue its own political gains in the name of counter-terrorism&quot;.

Mr Modi continued the fusillade by pointing out that those who nurture, shelter, support or sponsor terrorism are as much a threat to regional and global peace and security as terrorists themselves.

Similar sentiments found a reflection in the Goa Declaration. A relevant extract from the document read: &quot;We strongly condemn the recent several attacks, against some BRICS countries, including that in India[.] There can be no justification whatsoever for any acts of terrorism...&quot;

Mr Modi has been relentless in his pursuit of a proactive policy against Pakistan. He has consistently raised the issue at every multilateral fora. At the G20 Summit at China, he had this to say: &quot;Indeed one single nation in South Asia is spreading these agents of terror in countries of our region[.]

Those who sponsor and support terrorism must be isolated and sanctioned, not rewarded.&quot;

The same narrative was heard at the East Asia Summit at Vietnam, where he spoke about a country &ldquo;whose competitive advantage rests solely in producing and exporting terrorism&rdquo; and that &quot;the time has come for us to stop this global exporter of terror.&quot;

And most recently, India exercised its right of reply to Pakistan Prime Minister Nawaz Sharif&#39;s address to the United Nations General Assembly speech by describing Pakistan as the &quot;Ivy league of terrorism&quot;.

However, the jury is out on whether the Goa Declaration adopted by the BRICS member-states did justice to India&#39;s concerns about cross-border terrorism emanating from its immediate neighbourhood. On the face of it, the language of the relevant paragraphs from the Goa Declaration on the subject of terrorism are similar to the boilerplate formulation contained in some previous BRICS documents.

Asked if the outcome document, which was sanitised of specific references to either Pakistan or the terrorism directed against India, had come as a disappointment to New Delhi, Secretary (Economic Relations) Amar Sinha in the Ministry of External Affairs said, &quot;We are satisfied[.] You don&#39;t have to spell out everything.&quot; Mr Sinha went on to suggest that the Goa Declaration should be read together with the bilateral documents agreed upon by India and the BRICS countries, which highlighted a convergence of ideas.

Although the Goa Declaration mentions the Islamic State terrorist group by name, there were no references to terror groups such as the Jaish-e-Mohammed (JeM), which could be partly be attributed to China which sees Pakistan as an all-weather ally and a countervail to India. For his part, Mr Sinha sought to explain it away by saying that the JeM &quot;is focussed on India&quot; and therefore &quot;does not concern all of BRICS.&quot; 
 
(WION)

Without naming Pakistan, PM Modi said the 'mother ship' of terrorism 'is a country in India?s neighbourhood'

Prime Minister Narendra Modi on Sunday kept up India's efforts to diplomatically isolate Pakistan when he used the forum of the 8th BRICS Summit at Goa to urge the international community to lean on purveyors of terror who justify the use terrorism for political gains. Without naming Pakistan, he said that the "mother ship" of terrorism "is a country in India’s neighbourhood" and that terror modules of the world were linked to that particular country. In the same vein, he called for actions against the "hardware of terrorism", including, but not limited to, terror financing, supply of weapons and training. In a double-barrelled attack, Mr Modi also obliquely took a swipe at China which employed the exact phrase ("political gains") to justify its opposition to a United Nations ban on Jaish-e-Mohammed chief Masood Azhar, who New Delhi accuses of having had a hand in a series of terrorist attacks in India, including the September 18 attack at Uri in Jammu and Kashmir. On October 10, China's Vice Foreign Minister Li Baodong had said about India that no country should "pursue its own political gains in the name of counter-terrorism". Mr Modi continued the fusillade by pointing out that those who nurture, shelter, support or sponsor terrorism are as much a threat to regional and global peace and security as terrorists themselves. Similar sentiments found a reflection in the Goa Declaration. A relevant extract from the document read: "We strongly condemn the recent several attacks, against some BRICS countries, including that in India[.] There can be no justification whatsoever for any acts of terrorism..." Mr Modi has been relentless in his pursuit of a proactive policy against Pakistan. He has consistently raised the issue at every multilateral fora. At the G20 Summit at China, he had this to say: "Indeed one single nation in South Asia is spreading these agents of terror in countries of our region[.] Those who sponsor and support terrorism must be isolated and sanctioned, not rewarded." The same narrative was heard at the East Asia Summit at Vietnam, where he spoke about a country “whose competitive advantage rests solely in producing and exporting terrorism” and that "the time has come for us to stop this global exporter of terror." And most recently, India exercised its right of reply to Pakistan Prime Minister Nawaz Sharif's address to the United Nations General Assembly speech by describing Pakistan as the "Ivy league of terrorism". However, the jury is out on whether the Goa Declaration adopted by the BRICS member-states did justice to India's concerns about cross-border terrorism emanating from its immediate neighbourhood. On the face of it, the language of the relevant paragraphs from the Goa Declaration on the subject of terrorism are similar to the boilerplate formulation contained in some previous BRICS documents. Asked if the outcome document, which was sanitised of specific references to either Pakistan or the terrorism directed against India, had come as a disappointment to New Delhi, Secretary (Economic Relations) Amar Sinha in the Ministry of External Affairs said, "We are satisfied[.] You don't have to spell out everything." Mr Sinha went on to suggest that the Goa Declaration should be read together with the bilateral documents agreed upon by India and the BRICS countries, which highlighted a convergence of ideas. Although the Goa Declaration mentions the Islamic State terrorist group by name, there were no references to terror groups such as the Jaish-e-Mohammed (JeM), which could be partly be attributed to China which sees Pakistan as an all-weather ally and a countervail to India. For his part, Mr Sinha sought to explain it away by saying that the JeM "is focussed on India" and therefore "does not concern all of BRICS." (WION)

At BRICS summit, India calls for action against 'hardware of terrorism'

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