People having interest in stamps, coins, currency notes etc collect them and use for antique purpose.
In that case jail term or penalty in keeping demonetised notes in possession is out of the ordinary. So, there should not be jail term or penalty for holding demonetised Rs 500 and Rs 1,000 notes and the ordinance approved by the Union Cabinet in this regard should be immediately withdrawn.
Day after day the Union Cabinet and RBI are issuing contradictory orders denying the fundamental rights of citizens. What is the harm if a person holds a few demonetised notes? Will the government stop the stupidity of penalising them?
It is admitted by all that the current demonetisation was a thoughtless act. The black money seized is only about 4200 crores. On the other hand money eroded from Indian banks alone is more that one lakh crore. The loss to Indian companies augments to several lakh crores. The wage loss for workers is more than this. It is better for the government to admit the failure and stop further harassment.
K A Solaman
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