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Demonetisation: Kerala’s cooperative sector comes to a standstill, observes hartal

Achuthanandan also flayed the Centre and Prime Minister Narendra Modi over the decision to use indelible ink to mark customers exchanging defunct currency.

By: PTI | Thiruvananthapuram | Updated: November 18, 2016 1:38 pm
demonetisation, kerala, kerala cooperatives, kerala banks, kerala hartal, , india demonetisation, currency ban, old currency, 500 note ban, 1000 note ban, atms, demonetisation effect, indian express, national news, india news Democratic Youth Federation of India (DYFI) activists holding a protest march to Reserve Bank of India against demonetisation of Rs 1000 and Rs 500 notes, in Thiruvananthapuram on Tuesday. (Source: PTI)

The co-operative sector in Kerala on Wednesday came to a standstill, with banks and primary cooperative societies downing shutters and observing ‘hartal’ demanding that they be allowed to exchange the scrapped Rs 500 and Rs 1,000 currency notes. Co-operative sector employees, most of them women, took out marches and staged dharnas in district centres, including Thiruvanathapuram, to press the Centre in this regard.

WATCH VIDEO: Demonetisation: Here’s How It Affects Kerala Estate Workers

Inaugurating the march taken out to the RBI office here, CPI(M) veteran V S Achuthanandan said demonetisation had affected the common man.

Achuthanandan also flayed the Centre and Prime Minister Narendra Modi over the decision to use indelible ink to mark customers exchanging defunct currency.

Employees protested the “false” campaign that black money was deposited in huge amounts in the Co-operative sector banks in the state and claimed that it was a deliberate attempt to destroy the sector, that plays a vital role in the state’s economy.

The employees also alleged that Income Tax Department was showing an antagonistic approach towards the cooperatives in the state.

Kannur district, which reportedly has maximum number of cooperative societies, witnessed a huge protest by the staff. District Congress Committee (DCC) president K Surendran and CPI(M) district secretary P Jayarajan were also present.

WATCH VIDEO: Demonetisation: Select Petrol Pumps To Dispense Cash Up To Rs 2,000

The CPI(M)-led LDF government in Kerala had yesterday asked the Centre to allow district Co-operative banks and primary agriculture credit society to exchange defunct notes, saying any disruption in the sector would result in irreparable damage to the state’s economy.

State Minister for Co-operation A C Moideen had also sent a letter to Finance Minister Arun Jaitley, stating that there was no reason to distrust the District Co-operative banks as they were functioning as per RBI norms.

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  1. H
    Nov 16, 2016 at 6:11 pm
    Keralites have a huge ego problem.They do all menial jobs in gulf but resist doing the same in their homestate.
    1. X
      Nov 16, 2016 at 2:43 pm
      You do know that you are talking about a state that ranks first in HDI. The demonetisation is a good idea which was terribly implemented.If you have no clue about the ground reality in our fine state then please don't go on to spit malarkey about it.FYI there is no naxal issue in kerala.
      1. Raveendran Nair
        Nov 17, 2016 at 1:12 pm
        why the CPM can't join with Mamatha and Kejriwal in Delhi???????????????????!!!!!!!
        1. S
          Nov 18, 2016 at 11:13 am
          But what has this to do this demonetization? Dude, just because Kerala has a group of people that blindly support Modi or anything he does, you cannot draft a blanket response as this. While the demonetization is a great move, it's execution is an utter failure.
          1. M
            Nov 16, 2016 at 10:44 am
            Hartal and political murders without development in naxal ruled Kerala. Some things never change even in the 21 st century !!
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