The Consumer Protection Council, Tamil Nadu, has welcomed the Union government’s move to demonetise Rs.500 and Rs.1,000 denomination notes.
In a resolution adopted at its Executive Committee held here recently, the Council said that the move would help strengthen the economy. The sudden announcement of the decision has had the desired impact, the resolution claimed and said that the move would benefit consumers. There would be more money available for development of infrastructure and move would help ensure transparency in financial transactions and bring down inflation, the resolution said. This would be the first step in shifting towards digital transactions, it added.
However, it pointed out that the consumers have been forced to patiently undergo suffering and hoped the situation will ease soon. LPG payment and all other utility payments should be made only digitally. All private schools should be made to accept digital transactions for payment of fees, the council said.
The council members are willing to volunteer in regulating queues and filling up challans at any bank that may require its services, the resolution said. C. T. Selvakumar presided over the meeting. S. Pushpavanam, Secretary, and others spoke.
Demonetisation would help in making more money available for development of infrastructure
