New Delhi, Dec 20, 2016: Chidambaram says new RBI rule hits poor, middle class. Former Finance Minister P. Chidambaram on Tuesday stated the new RBI cap on deposits of demonetised currency had left the poor and center class excessive and dry.

Chidambaram says new RBI rule hits poor, middle class.

“Desperate authorities resorting to determined measures,” the Congress chief tweeted in response to the Reserve Bank of India’s choice to place curbs on deposits in banks of the previous forex.

He stated the RBI announcement of Monday that individuals can not deposit over Rs 5,000 in 500 and 1,000 rupee notes greater than as soon as amounted to breaking Prime Minister Narendra Modi’s promise of November eight and Finance Minister Arun Jaitley’s assurance of November 11 that each one the demonetised currency shall be accepted until December 30 with none restrictions as Chidambaram says new RBI rule hits poor, middle class.

On Tuesday, Jaitley clarified that people will not be questioned in the event that they deposit previous foreign money of any quantity at one go.

“RBI makes new rule on deposit, FM contradicts. Who ought to citizen consider? Neither has credibility,” Chidambaram mentioned when Chidambaram says new RBI rule hits poor, middle class.

“Hoarders have laundered their outdated notes. The poor and center class left high and dry.

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