NAFSCOB Chairman Dileepbhai Sanghani has written a letter to PM Narendra Modi “I congratulate you for taking initiative in abolishing Rs 1000 and 500 bank notes aimed at stamping out corruption and removing illicit money from the economy. This decision is also an attempt at curbing tax evasion and recovering illegally stashed income overseas.
“It will also help curb the circulation of fake currency notes in the country. The initiative will also help break the unholy nexus of black money and terrorism. Once again, I extend my hearty congratulations for taking such an initiative”, he added further.
Fishcopfed Managing Director B.K.Mishra said to this correspondent “the decision was long overdue, it will strengthen our economy”.
Chairman of Kangra Cooperative Bank Laxmi Das said “To stop the corruption and black money the move initiated by PM Narendra Modi deserves appreciation but the change of high denomination notes will pose a challenge for the general public”.
Manavi Urban Cooperative Bank Chairman Thimmaiah Shetty said “I welcome economical surgical strike announced by our beloved Prime Minister Narendra Modi. This will boost economy, Indian currency will appreciate and black money and corruption will end. Last but not least, the problem of fake notes and terrorist activities will greatly reduce”, he added.
Indraprastha Sehkari Bank chief executive officer Rajeev Gupta welcomed PM Narendra Modi’s decision on Rs 500 and 1000 currency ceasing to be legal tender. However, there may be some initial difficulties with the changing of high denomination notes, Gupta said to this correspondent on phone.