Only common people suffering due to demonetisation: Sanjay Nirupam

"Banks do not have adequate cash reserves. Government should have printed smaller denomination notes before scrapping Rs 500 and Rs 1000 banknotes," said Sanjay Nirupam.

By: PTI | Mumbai | Published:November 23, 2016 9:20 pm
Sanjay Nirupam Sanjay Nirupam

Contrary to the claims made by Prime Minister Narendra Modi, demonetisation of higher value notes has affected only the poor people and not the holders of black money, city Congress chief Sanjay Nirupam said on Wednesday. “Poor and common people have to queue up outside banks for long hours to withdraw or deposit their own hard-earned money. Modi says he took the decision targeting the holders of black money and counterfeit currency, but it is the common man who is at the receiving end,” Nirupam said.

Watch What Else Is Making News

He addressed a meeting outside a bank in suburban Kurla under the Congress’ “money ki baat” drive against the “faulty” implementation of demonetisation of high value notes.

“Banks do not have adequate cash reserves. Government should have printed smaller denomination notes before scrapping Rs 500 and Rs 1000 banknotes. If higher denomination notes indeed encourage black money then what is the logic behind printing Rs 2000 currency notes?” he said.

Nirupam said Modi should spell out if Rs 2,000 notes can really check generation of black money.

“Does Modi think that all those who are queueing up outside banks are corrupt people? The Prime Minister is responsible for the deaths caused due to shortage of money or non-acceptance of the old currency notes or wanting for medical attention,” he said.

Referring to retrenchment of 14,000 employees by engineering major L&T, Nirupam said, “the demonetisation decision has affected small trade. Rs 5.45 lakh crore have been deposited in banks after November 8, but at the same time banks have written off loans worth Rs 70,000 crore of 63 wilful defaulters.”

He also took a swipe at BJP for appealing to people to shift to plastic money. “BJP leaders are asking people to use debit cards. However, only 8 crore people have debit cards in country..what about others?” Nirupam said. Congress leaders Kripashankar Singh and Mohamed Arif Naseem Khan were also present on the occasion.

For all the latest India News, download Indian Express App

  1. A
    Nov 23, 2016 at 6:22 pm
    Ya ya in ths country only papu chamta kanerji softy yadav n boycut babe of up are educated and intlectuals who are thinkin nd cn take india towards development....likes of bill gates,singaporean reformer n other few ceo's who say its a master stroke are fools...ya we totaly get it...but we see many likes of us who stand in que to get money and are totally fine with this uncomfortableness for better future....we dont think n care abt wt losers like ths kanjay perupump has to blurt..
  2. I
    Nov 23, 2016 at 5:43 pm
    You peanut brain people will never understand the w idea;br/gt;lt;br/gt;Why will people with black money come to queue, their black money is like paper now. they are crying sitting somewhere (just like you and your other corrupt friends)lt;br/gt;lt;br/gt;Hope one day in future you will understand how s you were opposing this move.
  3. R
    Rajesh Makhija
    Nov 24, 2016 at 2:32 am
    He is not an . He is just trying to brainwash the common people.
  4. V
    Venkatesan Rajagopalan
    Nov 24, 2016 at 2:46 am
    Sanjay nirupam understanding of economics is very high.. He is not standing in the queue to support the poor people.. He has enormous money in his backyard. He is a Goo da element politician. Can't expect better from a Rotten guy.
  5. R
    Nov 23, 2016 at 6:36 pm
    people who have never faced drought and say i m hit by sand dune.... let our country grow....we all know it will take another 25-30 years before we can say we all Indians want to contribute to become developed India and we will it will take time...time to grow.. time to get rid of people who just think of what they want..stead we should think what we will left for our generation our kids.....once in a while we need to think without alcohol
  6. Z
    Nov 23, 2016 at 5:58 pm
    Remember Sanjay is the right hand man of Rahul;br/gt;So now you know why pappu is called scholarly ....
  7. Load More Comments