Government to Issue Rs 15 Lakh Interest Free Loan to Indian Citizens In 2017

Prime Minister Narendra Modi decommissioned the usage of Rs 500 and Rs 1000 notes last week, which created chaos in the country. The government is still finding ways to handle the situation and bring back normalization. The demonetisation policy took bad toll on the general public, who are badly affected by the new policy.

According to Liveday, the government has plans to issues Rs 15 lakh interest free loan to citizens of the country. It is said that starting January the lesser denomination notes of 10, 20, 50 and 100 will be called off from circulation, so it is advised not keep these notes in stock.

As far as black money is concerned, black money holders are trying to convert black money to white by making low profile people to deposit Rs 500 and Rs 1000 notes in their account. For this people are charging up to 20% commission per one lakh. Currently, this is the hot business happening across the country.

To those who are helping black money holders, keep in mind that the government is watching you closely. Everything has been monitored and if government finds difference in deposits and the actual income, your account will be freezed as well as all government benefits including Gas allowances, Ration allowances, and more will be terminated.

If the reports are true, the new Rs 2000 currency notes will be decommissioned by RBI from March 2017. It is known fact that RBI will issue new Rs 1000 currency notes sometime before January 2017.

Rs 15 Lakh Interest Free Loan

Liveday reports that an alleged interest free loan of Rs 15 lakh will be issued to those who had made deposits of below Rs 25,000. Going by that way, from March 2017 there won’t be any poor in the country.

As per Modi vision of ‘Make in India’ campaign, it’s an opportunity for all to set up small scale industries and get benefited. This is what happening in China, as they are the pioneer manufacturers in all departments. India is following the traits of China to produce ‘Make in India’ products.

The authenticity of the news is uncertain so take with a pinch of salt as we don’t have any official confirmation from the government.

With this demonetisation policy, the government is trying to restrain black money and counterfeits and taking forward the nation to cashless economy state. While it is said to be a long term plan, the government didn’t take proper financial measures in the course time to keep the situation in control. People are lined up waiting outside the banks and ATMs for hours and it takes a day in towns and villages to deposit and exchange the old currencies. After the implementation of demonetisation policy, 16 deaths have been reported so far across the country due to various problems.

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