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Govt will try to normalise situation in banks in new year, Modi says in address to nation
Saturday December 31, 2016 8:07 PM, & Agencies


New Delhi:
Prime Minister Narendra Modi in his address to the nation Saturday hailed the 'pain' people underwent during the last fifty days after demonetisation and asserted that the government will do everything in its hand to normalise the situation.

"Yes people have faced problems for betterment of nation, this is your blessing. The government will try to normalise situation in banks in new year", the prime minister said in its address aired live today evening.

"Deficiency of cash in an economy is painful. Lack of cash created problems but excess of cash creates more problems", he added.

"During the past few days, I received a lot of messages and I believe you sent messages considering me to be your own. Your love came as blessing for me", PM Modi said.

Praising the people Modi said, "There is no such example in the world to compare with what India has done. In the past few years, Rs 1000 and Rs 500 notes weren't used normally but were being used in parallel economy".

"In this fight against corruption and black money this debate on what will happen to the dishonest will be always there", he said.

while announcing two new schemes under Pradhan Mantri Awas Yojana to provide of 4 pc interest waiver on loan of up to Rs 9 lakh and of 3 pc on loan upto Rs 12 lakh, the prime minister also declared 03% interest waiver on loan upto Rs 2 lakh for construction of houses in rural India.

In his address to the nation aired after the 50-day limit after currency ban ended, the prime minister asked banks to focus on poor, lower middle class and middle class to tune their programmes out of huge money that has come to them.

The prime minister also said that serious offences by bank and govt officials have come to light, adding no one will be spared.

At the same time, he claimed that the demonetisation has caused deep infliction on blackmoney, terror, human traffickers and counterfeit currency.


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