Govt sources claim that the transportation time has been reduced to six days from 21 days.

IAF planes copters deployed to transport cash say reportsRepresentational Image/PTI
news Demonetisation Monday, November 21, 2016 - 14:20

As India grapples under severe cash crunch in most parts of the country, government claims it has reduced the transport time of cash from 21 days to six.

Sources in the government told The Times of India that it has deployed helicopters and Indian Air force planes to bring down the transportation time of cash from printing to main distribution from 21 days to six. 

The government expects normal economic activity to be back to normal by January 15 next year.

"RBI may transfer higher dividend or there could be a special dividend," the sources said. There is a probability of the government getting a "windfall" as a significant portion of the notes may not come back. This will reduce the liability of RBI and increase its ability to pay higher dividend. Even in 1978 when the government resorted to demonetisation, 20% of the notes did not come back," TOI quoted government sources saying.

The move comes a week after media began to report that the centre had decided to deploy IAF planes to ease up the distribution of cash throughout the country.

Monday saw protests from the Opposition in both the Houses of the Parliament over the issue.

Speaking in Agra, PM Narendra Modi said on Sunday that the country will emerge victorious after the 50-day deadline. He said, “Your hardship won’t go waste. The country will emerge from this like gold.”

The Prime Minister added that the government will modify its decision on demonetisation keeping in mind the convenience of the common man.

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