MyGov India Fortnightly Newsletter

Transcription

1 #TransformingIndia Volume 1 Issue 7 18th November, 2016 MyGov India Fortnightly Newsletter

2 WHAT S INSIDE Pages 03 The Dawn of Demonetisation 05 Benefits of the Demonetisation scheme 06 Pan Card linked to Aadhar Card The War against Black Money 12 FAQs 20 Voice of the Nation 24 Glimpses of the Fortnight Page 2 of 24

3 The Dawn of Demonetisation: Blacking out the Black Economy 8th November 2016, will go down in the history of India as the day of New sunrise of Indian Economy when Prime Minister Narendra Modi announced the demonetisation of the 500 and the 1,000 rupee notes, one of the biggest steps taken by the government since independence. Several measures have been taken to make the transition phase easy for the common man. However, because of the sensitivity of the issue and the secrecy that had to be maintained, it is estimated that the transition will be completed in about fifty days. Page 3 of 24

4 The Transition - From November 8th, 2016 Old 1,000 and 500 notes have to be deposited in Banks or Post Offices by the 30th of December, The suddenness of this move is expected to bring about significant changes in the economy and not only help provide impetus to the overall development of the Nation but also clean up the system. Real estate and education will become more accessible to the common man. The terrorist and money laundering activities will suffer a major setback. The nation will continue to reap the benefits of this step for years to come. Many steps were taken by the government with the support of numerous departments to ease out the process of currency exchange for the common man. Banks are working overtime to help people exchange their old demonetised notes with new ones. Government Hospitals, Railway Ticketing Counters, Government Buses and Airlines will continue to accept the old notes till 24th November, Petrol Pumps and State run co-operatives have been instructed to do the same. Toll gates and airport parkings have also been rendered free of charge. The step brought in the feeling of equality amongst all. People were seen helping each other, assisting senior citizens and taking up responsibility to maintain discipline. Page 4 of 24

5 Page 5 of 24

6 The War against Black Money: Road to Demonetisation Enquiry was set up on Black Money Jan Dhan Yojana introduced Bank Account number made mandatory in Income Tax Returns Pan Card linked to Aadhar Card Subsidies, pension & other benefits linked to bank through DBT Excise duty levied on Gold TCS made compulsory for cash transactions above 2 lakhs Voluntary declaration of black money encouraged Pan cards made mandatory in the purchase of gold and jewellery A meticulous attack on corruption Unprecedented in scale Banks urged to invest in Digital banking. Expansion to Rural areas Promotion of Digital India, Digital Currency and Transactions Page 6 of 24

7 Our PM says... Only when people are ready to face inconvenience, corruption will go Now, we again have an opportunity where every citizen can join this Mahayagna against the ills of corruption, black money and fake notes. The more help you give in this campaign the more successful it will be. After demonetisation, the poor enjoy a sound sleep while the rich are running to buy sleeping pills I have confidence in the 125 crore people of India and I am sure the country will succeed. In a country s history, there come moments when every person feels he or she should be part of that moment, that he or she should too make his contribution to the country s progress. We don't lack money, but it is lying where it should not be Page 7 of 24

8 Interesting facts about the new currency Page 8 of 24

9 Interesting facts about the new currency Page 9 of 24

10 Interesting facts about the new currency Page 10 of 24

11 Interesting facts about the new currency Page 11 of 24

12 Frequently Asked Questions Need I go only to my bank s branch or may I go to any other bank or its branches? If you want to go to a branch of any other bank where you are not maintaining an account, you will have to furnish valid identity proof and bank account details will be required for electronic fund transfer to your account. Where can I get more information on this scheme? More information is available on the RBI website ( You may also approach the control room of RBI by or on Telephone Numbers / Page 12 of 24

13 Frequently Asked Questions Can I withdraw cash against cheque? Yes, you can withdraw cash against withdrawal slip or cheque. Can I deposit withdrawn notes through ATMs, Cash Deposit Machine or Cash Recycler? Yes, OHD (Old High Denomination) notes can be deposited in Cash Deposit Machines / Cash Recyclers and some ATMs. How much time do I have to exchange the notes? The scheme closes on 30th December The OHD banknotes can be exchanged at branches of commercial banks, Regional Rural Banks, Urban Cooperative banks, State Cooperative Banks and RBI till 30th December For those who are unable to exchange their Old High Denomination Banknotes on or before December 30, 2016, an opportunity will be given to them to do so at specified offices of the RBI. They need to carry necessary documentation as may be specified by the Reserve Bank of India. Page 13 of 24

14 Frequently Asked Questions Can I make use of electronic (NEFT/RTGS/IMPS/ Internet Banking / Mobile banking) mode? You can use NEFT/RTGS/IMPS/Internet Banking/Mobile Banking or any other electronic/ non-cash mode of payment. I am an NRI who holds a NRO account, can the exchange value be deposited in my account? Yes, you can deposit the OHD banknotes to your NRO account. I am not in India right now, what should I do? If you have OHD banknotes in India, you may authorise in writing to enable another person in India to deposit the notes into your bank account. The person so authorised has to come to the bank branch with the OHD banknotes, the authority letter given by you and a valid identity proof. I have emergency needs for cash (hospitalisation, travel, life saving medicines) What should I do? You can use the OHD notes to pay for your hospitalisation charges at government hospitals. OHD notes can also be used to purchase bus tickets at Government bus stands for travel by state Government or state PSU buses, train tickets, and air tickets. Page 14 of 24

15 Demonetisation: Myths vs Reality Page 15 of 24

16 Demonetisation: Myths vs Reality Page 16 of 24

17 Demonetisation: Myths vs Reality Page 17 of 24

18 Demonetisation: Myths vs Reality Page 18 of 24

19 Your Money is Safe Page 19 of 24

20 Your Money is Safe Page 20 of 24

21 Voice of the Nation Page 21 of 24

22 Voice of the Nation Page 22 of 24

23 Voice of the Nation Page 23 of 24

24 Prime Minister Narendra Modi in Goa Glimpses of the Fortnight No More Tension mobile App. Addressing the Indian community in Kobe, Japan Pradhan Mantri Surakshit Matritva Abhiyan launched Every citizen will stand up and participate in this 'mahayagna'. After the festivity of Diwali, now join the nation and extend your hand in this Imandaari ka Utsav, this Pramanikta ka Parv, this celebration of integrity, this festival of credibility. - PM Modi's address to the nation on 8th November,