Hyderabad: The changing decisions on functional activities of India’s Financial Ministry seems to be very cloudy.
Changing the Reserve Bank of India norms very frequently within 42 days of demonetization confuse or help people?
On December 19, Union Finance Minister announces about the one-time deposit till December 30 would not invite scrutiny by bank officials. It announced that demonetized notes above Rs 5,000 can now be deposited in bank accounts only once till 30 December.
On December 20, FM again underlined that only one-time deposit would be allowed.
But on December 21, RBI took a U-turn as it withdrew its restrictions that deposits of above Rs 5,000 in demonetized banknotes can be made only once till December 30.
The issues RBI notification recalled the Rs 5,000 restriction for KYC(Know Your Customer)accounts. It announced that fully KYC-compliant account holders can deposit over Rs 5,000 without any questions being asked.
The announcement had come in for criticism from the people and political parties who pointed out that both the Prime Minister and the Finance Minister .
It has taken new shape. People lost confidence on RBI and the ruling government. As a result common man are in bad situation. People are afraid that what new decision will come tomorrow.?
Is it all because of RBI Governor has become the Mouth piece of Prime minister?
Is it a government of a single man or whole INDIA.?