Friday, 15th December, 2017

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Nation concerned as RBI fails to introduce any new demonetization rule during the past 24 hrs

05, Dec 2016 By Sandeep Kadian

New Delhi: Entire nation remains on the edge with nervousness as Reserve bank of India (RBI) failed to introduce any new rule related to demonetization during the past 24 hrs. Ever since Narendra Modi announced demonetization on the 8th of November, RBI has been promptly introducing new rules and this is their longest dry spell yet.

RBI
What is going on inside?

Whether it was about the amount one can get exchanged, amount one can withdraw from ATMs, amount one can withdraw for wedding, withdrawal limits for farmers, last date for use of old notes at petrol stations, rules have been changed so many times that the only person who remembers all the rules is the stenographer in Urjit Patel’s office.

“Earlier they were changing rules every few hours so it was fine but now it has been more than 24 hrs and nothing, no new press release, no announcement. I am really concerned, maybe they are coming up with a really big announcement now, that is why the delay. Maybe they will ban currency totally and we will officially move to barter system. Whatever it is, I have got a nervous feeling about it”, a middle aged man in a queue outside an ATM told Faking News.

Another person standing there said,”Maybe RBI officials themselves are standing outside some bank right now, that could be a reason. Nothing else explains why they haven’t introduced any new rule recently when they were consistently doing it every day. They were more consistent than Virat Kohli in 2016 but all of a sudden this silence, something major could be wrong.”

Chartered Accountants across the country are also worried about this silence from RBI and have request RBI to introduce more and more complicated rules to give a boost to the business of CAs.