NT NETWORK
PANAJI
Goa Forward Party’s (GFP) delegation led by its president Prabhakar Timble submitted a memorandum to general manager of Reserve Bank of India (RBI) at Panaji demanding restoring financial normalcy in view of Christmas and New Year celebrations later this month.
The memorandum addressed to the RBI Governor Urjit Patel has sought to know the legal provisions under which the RBI assumes the power to instruct the banks to investigate, question and seek explanation for sources of legal tender by the citizens of the country.
The memorandum further states, “The sudden brainwave of imposing restrictions and roadblocks on deposits of specified bank notes has caused grave inconvenience to the people. This is coming at the time of Christmas season and New Year which also coincides with the peak tourist season in Goa. This worsens the position not only for the minority community in Goa but for all Goans as the Christmas is celebrated with pomp and joy by all communities in Goa.”
GFP has demanded that the RBI ensure that the ATMs are made fully operational with no restrictions on withdrawal. “It is high time that normalcy is restored particularly because of Christmas and New Year. The rationing of cash withdrawals be stopped forthwith as the limit of Rs 24,000 cash withdrawal per week is without authority of law. Notes of lower denomination be made available as per the demand of people,” the memorandum stated.
GFP has accused the RBI of flawed and negligent conduct and stated that the constant changes in stance have brought undue misery to the people. It has undermined the authority of the RBI and people are losing confidence in this apex monetary authority, GFP added.
Warning the RBI of a backlash from the citizens, the memorandum signed by Timble states, “People have shown controlled intolerance to all the illegal conduct and actions of the RBI. The contents of your orders and circulars are not backed by law. Do not wait for the people to take the law in their hands and make the banks and the officers as their target.”
