Prime Minister Narendra Modi is likely to make another address to the nation on the notes ban on Saturday, December 31, at 7.30 pm, sources have said. In a televised address on November 8, he had suddenly banned 500 and 1,000-rupee notes, a move aimed at eliminating corruption and black or undeclared money. A deadline for depositing old notes in bank accounts ends tomorrow, December 30.
Sources say, PM Modi may speak about the steps likely to be taken to ease cash flow that has been a major problem since notes ban was announced. He may also speak on the steps to deal with the problems the economy faces after the government’s move.The notes ban had taken out 86 per cent of the cash circulating in the economy at that time and a massive cash crunch has followed, disrupting daily life, with people struggling to get new currency notes and holding back on spending, except for immediate and urgent needs.