Trade and industry looks forward to clear guidelines on exchange of the demonetized currency notes as well as an assurance that the members will not be subjected to unnecessary harassment, according to the Federation of Telangana and Andhra Pradesh Chambers of Commerce.
“There is a apprehension on clarity of exchanging the notes with the bank and later harassment by various government departments,” FTAPCCI president Ravindra Modi said on Wednesday. He said this in a statement even while pointing to the appreciation for the “bold move” of Prime Minister Narendra Modi.
Telangana State Council Chairman of Federation of Indian Chambers of Commerce and Industry (FICCI) Devendra Surana said that the decision to suspend the legal tender status of Rs. 500 and Rs. 1,000 notes and to introduce new currency notes, is a good initiative to curb black and counterfeit money.
“FICCI supports this initiative. There will be some disruptions for a short period of time. However, it will immensely benefit the Indian economy in the long run,” he said in a release.
