New notes hoarders have to pay a very heavy price: Jaitley

New notes hoarders have to pay a very heavy price: Jaitley

NEW DELHI, Dec 13: Central Government once again today warned of even more stringent action against all those involved in siphoning away of new bank notes after demonetisation on November 8, 2016 as all agencies are keeping an eye on this.

The punishment would be met with huge tax fine as well as serving years behind bars. The government make it clear that the demonetisation is really meant for good and the inconvenience is all but a little glitch till all black money is rooted out.

In a statement here, Finance Minister Arun Jaitley said the agencies will investigate this matter and all those who are found indulging in these malpractices will have to pay a very heavy price for what they are doing.

The Finance Minister added that some people were misusing the situation in connivance with banks following withdrawal of Rs 500 and Rs 1000 notes.

He said no one will be spared and strict action against all those involved in siphoning away of new bank notes will be taken.

Similarly, Indian Banking Association (IBA) chairman Rajiv Rishi said banks are trying their best to help their customers, but they would take cognizance of reports of any malpractices by banks in the wake of demonetisation.

(Source: UNI)

(Featured Image Source: Internet/ Representational)

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