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  Business   Economy  17 Nov 2016  Industrialists knew about note ban: BJP MLA

Industrialists knew about note ban: BJP MLA

DECCAN CHRONICLE
Published : Nov 17, 2016, 1:09 pm IST
Updated : Nov 17, 2016, 1:47 pm IST

Bhawani Singh, MLA from Kota, says govt should have given people some time before banning notes.

Reliance Industries chairman Mukesh Ambani.
 Reliance Industries chairman Mukesh Ambani.

Mumbai: In a startling revelation, a Bharatiya Janata Party (BJP) legislator from Rajasthan has claimed that Reliance Industries Chairman Mukesh Ambani and Adani Group promoter Gautam Adani were informed well in advance of government’s demonetisation move.

Bhawani Singh who represents the BJP from Kota assembly constituency claims that, as a result, both Ambani and Adani were able to sort out their money ahead of government scrapping legal tender status of Rs 500 and Rs 1,000 currency notes.

"The government could have given people some time to get things in order,” news agency ANI quoted Singh as saying. Singh went on to tell the ANI that the government should have implemented its decision to demonetise Old High Denomination (OHD) currency notes in a phased manner.

"It could have been a step by step move," Singh told the news wire.

Tags: mukesh ambani, demonetisation, gautam adani
Location: India, Maharashtra, Mumbai (Bombay)