Govt’s demonetisation step showing result, says Ravi Shankar Prasad | india-news | Hindustan Times
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Govt’s demonetisation step showing result, says Ravi Shankar Prasad

The decision to demonetise Rs 500 and Rs 1000 currency notes has started showing results and Rs 4 lakh crore has come to banks, Law Minister Ravi Shankar Prasad said on Saturday.

india Updated: Nov 20, 2016 01:20 IST
PTI
Law minister Ravi Shankar Prasad said decision to demonetise currency notes has started showing results.
Law minister Ravi Shankar Prasad said decision to demonetise currency notes has started showing results. (HT File Photo)

The decision to demonetise Rs 500 and Rs 1000 currency notes has started showing results and Rs 4 lakh crore has come to banks, law minister Ravi Shankar Prasad said on Saturday.

“Demonetisation showing results, Rs 4 lakh crore has come to banks, all now clean money; terrorist flow of counterfeit money stopped,” he said.

He also said Maoists and other extremists are now finding their financial backbone completely broken. “India’s economy surging, security getting strengthened,” he said.

Prime Minister Narendra Modi had on November 8 surprised citizens by announcing demonetisation of Rs 500 and 1,000 currency notes and since then large number of seemingly unending queues before banks and post offices are seen in order to exchange these currencies.