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Apologize on RBI’s Note Ban report: CPI to Modi

Hyderabad, Aug. 29: CPI General Secretary S. Sudhakar Reddy today demanded that Prime Minister Narendra Modi apologize to the nation for the grave miscalculation of demonetization that created chaos and injured the economy of the nation.

In a statement here today, Sudhakar Reddy said that it was a misadventure. He found fault with the official information of Reserve Bank of India that 99.3 per cent currency in circulation at the time of note ban has come back after in bank. It only exposed the tall claim of the Prime Minister Narendra Modi and Finance Minister Jaitley that black money got into trouble and the money to extremists has stopped. He sought that Reserve Bank should explain how much is deposited by NRIs in bank that are not paid back. RBI should also explain as to how about Rs. 16 lakh cr currency in circulation at the time of demonetization has now become Rs 19 lakh cr. Demonetization only took the lives of a hundred people, destroyed small business of marginalized people, thrown the millions of unorganized labor into crisis.

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