Union Commerce Minister Nirmala Sitharaman, in an interview to CNN-News18, said that there is no cash crunch but the cash has to reach perople's hands. She also said it is because of this bold measure that the Indian economy is cleaner and globally the currency is fluctuating.
"People are slowly evolving towards technology such as e-wallets," said the minister.
She admitted the lack of small denomination notes hit the vegetable mandis, but things have changed with the 500 notes coming in. She further added that the labour-intensive sectors are a cause of concern as bank accounts need to be opened.
She urged the Opposition to come and debate.
Stay tuned for LIVE updates
PM ka sahsik kadam hai notebandi, isse desh ka fayda hoga: Bihar CM Nitish Kumar— ANI (@ANI_news) November 25, 2016
Modi Ji, like Uncle Podger, over promises but under delivers. First promises to deliver everything on his own and then creates a mess 4 all— Lalu Prasad Yadav (@laluprasadrjd) November 25, 2016
READ: Pakistan Also in Demonetisation Mode, But Has Time Till December 31, 2021
An exercise somewhat similar, but not the same as India's demonetisation, is currently underway across the border in Pakistan.
READ: Arun Jaitley Pitches for Digital Economy
Responding to a question on digital payment systems, Finance Minister Arun Jaitley said the government wanted the physical currency to come down and be substituted by digital currency.
READ: Pakistan is Damaging Itself By Fighting Against India: PM Modi
Prime Minister Narendra Modi on Friday said Pakistan was yet to settle from the setback of surgical strikes and was damaging itself by fighting against India.
READ: Nitish Kumar Supports , Dismisses Fissures in Coalition
Reiterating his support to the Centre's demonetisation decision, Bihar Chief Minister Nitish Kumar today described the move as a
14 - 17 Jul, 2017 | Basil D'Oliveira Trophy SA vs ENG 335/1096.2 overs 205/1051.5 oversSouth Africa beat England by 340 runs
14 - 18 Jul, 2017 | Zimbabwe in Sri Lanka ZIM vs SL 356/1094.4 overs 346/10102.3 oversSri Lanka beat Zimbabwe by 4 wickets
10 Jul, 2017 | Zimbabwe in Sri Lanka SL vs ZIM 203/850.0 overs 204/738.1 oversZimbabwe beat Sri Lanka by 3 wickets
09 Jul, 2017 | India in West Indies IND vs WI 190/620.0 overs 194/118.3 oversWest Indies beat India by 9 wickets
08 Jul, 2017 | Zimbabwe in Sri Lanka SL vs ZIM 300/650.0 overs 219/629.2 oversZimbabwe beat Sri Lanka by 4 wickets (D/L method)