Union Government constitutes committee to review status of demonetisation drive

The Union Finance Ministry on 18 November 2016 constituted a committee with an aim of assessing the status of implementation of demonetisation drive in the country.

The committee comprises of Additional Secretaries, Joint Secretaries and Directors with each team consisting of up to two or three officers for each State and Union Territory (UT).

The committee was formed following the decision of the Union Government to ban 500 and 1000 rupees currency notes on 8 November 2016.

Terms of references of the Committee
• The teams will be constituted by the Department of Personnel Training and concerned officers.
• The teams shall visit the States or UTs allocated to them for at least 2 days.
• Each officer shall visit different area of State or UT separately with the main focus on rural areas.
• Visit the States and union territories and report back to the Union Government and submit its report by 25 November 2016.
• Check currency availability across the States in the network of bank branches, ATMs and post offices.
• Verify facilities at bank branches and post offices for deposit, withdrawal and exchange of currency.
• Check the impact of the demonetization on households, traders, transportation, industries, wage earners, agriculturists, informal sectors and small business.