Cancellation of Rs 500, 1000: FICCI hails PMa��s extremely bold decision
New Delhi: Commenting on the decision of the Union government to suspend the legal tender status of currency notes of Rs 500 and Rs 1000,A�FICCIA�president Harshavardhan Neotia, said it is a bold move by Prime Minister Narendra Modi, which will have a debilitating impact on the parallel economy in the country as well as a deadly blow to terror financing.
a�?FICCI totally supports this move of the Centre and complements it for its continuous and comprehensive measures to deal with the issue of black money in the countrya�?, he added.
a�?There could be some inconvenience that this change may lead to for the people for a few days. However, we are sure that the government and the RBI will take adequate measures to ensure the transition happensA�smoothly. We appeal to all sections of society to support this initiative and help Indiaa��s economy gain strength by addressing the menace of black money and illicit transactionsa�?, Neotia added.A�