New Delhi– Into the second week of demonetisation of high value banknotes, Union Finance Minister Arun Jaitley on Wednesday changed the cover photo on his Facebook page which now had a blurb saying India can no longer live with black money.
“India cannot afford to live with black money any longer. Honesty, integrity and ethical conduct are requirements of India’s development,” says the cover photo.
Prime Minister Narendra Modi had on 8 November announced demonetisation of high denomination currency notes saying the move was needed to eliminate black money, counterfeit notes and terror financing.
Also on Wednesday, Jaitley informed Parliament on the government’s position on big defaulters like Vijay Mallya whose loans have been written off by state-run State Bank of India (SBI).
“Loan to Vijay Mallya’s Kingfisher is a write-off only in books, but the government is still pursuing his case,” he told the Rajya Sabha.
Defunct Kingfisher Airlines’ owner Vijay Mallya owes around Rs 9,000 crore to a consortium of 17 banks led by the SBI.
Mallya has left the country and has been declared as a fugitive by the court.