Jaitley defends note ban, says sorry' for inconvenience

New Delhi: Assuring that the ATMs across the country would be recalibrated with the new Rs 500 and Rs 2000 notes within a span of two weeks, Union Finance Minister Arun Jaitley on Saturday regretted that the demonetisation of currency cause huge inconvenience to the people.

“It’s a big regret that people are being inconvenienced. The ATMs have not been re-calibrated for new Rs. 2000 currency note; the process is on and will be finished by two weeks,” Jaitley said in a press conference held in the national capital.

“According to an RBI report all the chests are filled with new currency, but sometimes proper amount of money is not available everywhere,” he added.

Jaitley hit back at political parties who criticised the Modi government for demonetising big notes and accused them of making ‘irresponsible’ statements.

“Different political reactions are coming, some of which are really irresponsible. When Government decided to demonetise, it had expected that people would go to banks in large numbers,” he said.

“It was expected that there will be some difficulty for the first few days as 86% currency is changed. Bank officials are working from morning to late night and people are also cooperating well despite all difficulties,” he added.

Jaitley also clarified that there was no shortage of salt and warned those who were spreading false rumours post the demonetisation announcement by the government.

“It is very clear that some rumours stared on the first day like electronic chips in notes and salt rumours, but these are just rumours,” Jaitley said, trying to douse fears over false rumours.

“If anyone indulges in improper and unlawful activities, concerned departments are going to take it up.” Jaitley said.

Lack of small denomination currency had triggered rumours of black marketing of essential commodities like salt as shopkeepers refused to provide change when offered with higher denomination notes.