India

Shiv Sena claims credit on finance ministry decision to allow DCC banks to deposit demonetised currency with RBI

Shiv Sena claims credit on  finance ministry decision to allow DCC  banks to deposit demonetised currency with RBI

Mumbai: Amid of the Union government’s decision to allow the district central cooperative (DCC) banks among others to deposit demonetised currency with RBI by 20 July Shiv Sena on Wednesday claimed credit for granting permission.

“This was Sena President Uddhav Thackeray’s demand a few days ago and later our minister Diwakar Raote also raised it,” said a party official.

During the demonetisation period the District central cooperative banks were allowed to accept them only till November 14.The Sena official pointed out that after the DCCBs were barred from depositing the old notes, it became impossible for Maharashtra’s 31 district cooperative banks with some 3,750 branches to provide fresh agricultural loans and facilitate other rural activities, and simultaneously, they had to pay interest to depositors.

Most of the leaders including NCP supremo Sharad Pawar and those from Shiv Sena had represented to the government for allowing cooperative banks to exchange old notes as district central cooperative banks in Maharashtra are stuck with Rs 2,770 crore worth old notes they collected during the early days of demonetisation but were unable to deposit them with RBI.