Decision to abolish Rs 500, 1000 notes ‘Heartless’ and ‘draconian’: Mamata Banerjee

Banerjee said that it would cause serious financial problems for the common man.

By: Express Web Desk | New Delhi | Updated: November 8, 2016 11:58 pm
500 1000 rupee notes, notes made illegal, Narendra Modi notes announcement, black money, political reaction, India news, latest news, indian express West Bengal Chief Minister Mamata Banerjee. (PTI Photo)

Calling it ‘draconian’ West Bengal Chief Minister Mamata Banerjee on Tuesday said that Modi government’s decision to abolish Rs 500 and Rs 1000 notes will be a huge blow to the Indian middle class. “Heartless and ill-conceived blow to the common people and the middle class in the fake name of anti-corruption. Withdraw this draconian decision,” Mamata Banerjee was quoted as saying by news agency ANI.

She also said that the decision while tackling the issue of black money and corruption it would cause serious financial problems for the common man. “While I am strongly against black money and corruption, I am deeply concerned about common people and small traders. How will they buy essentials tomorrow? This is a financial chaos and disaster let loose on the common people of India,” the chief minister said.

Also Read: Rs 500 and 1000 currency notes stand abolished from midnight: PM Modi

She also said that the decision taken by PM Modi was a diversion from the initial promise made on retrieving black money from overseas accounts. “The PM could not get back the promised black money from abroad from the rich so a drama like this to divert his failure,” she added.

Also Read: Rs 500, Rs 1,000 notes declared illegal: Here is how politicians reacted

In a move that has rattled the nation, Prime Minister Narendra Modi on Tuesday abolished Rs 500 and Rs 1,000 notes effective midnight. The move, aimed at tackling fake notes and the black money economy, is expected to have a huge impact on the economy, equivalent to a substantial withdrawal of money or a significant hike in the interest rates. He expressed confidence that the staff of banks and post offices will rise to the occasion to introduce the new order within the available time. The Indian government had done something similar in 1978 when it demonetised Rs 1,000, Rs 5,000 and Rs 10,000 notes.

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First Published on: November 8, 2016 11:22 pm
  1. G
    gagan gupta
    Nov 9, 2016 at 5:20 am
    Jo jitna chipaya hua hai woh utna hi chillaya hua hai ..............RIP corruptionist
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      AKS
      Nov 8, 2016 at 6:57 pm
      Politicians have huge amount of black money. Didi is worried for them. Modi should have given them chance to re-route their money.
      Reply
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        Anand Sudan
        Nov 8, 2016 at 7:17 pm
        Only anti nationals who want to see that stan made notes are in circulation will oppose the move. The entire nation and the entire people of this country is behind ModiPM
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          anoop
          Nov 9, 2016 at 8:16 am
          Modi shud have understand at least mamta's problem.... with this ban.. how will she pay Jamaat e islamia now?.... it is darconian...
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            Anil
            Nov 8, 2016 at 8:06 pm
            She is screaming because it will affect her illegal Bangladeshi immigrants business ( her pet voters )
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              Girish
              Nov 8, 2016 at 10:08 pm
              Every corner of earth, all the experts hailing NaMo's financial surgical strike. Does Mamta, Kejari, and Yechuri have black money stored some where? Why these s are unhappy when every Indian who does not have black money is celebrating this news as Diwali all over again.
              Reply
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                avd
                Nov 8, 2016 at 10:36 pm
                Like Arvind Kewjriwal, Mamata shouts at Narendra Modi occasionally. Her main aim is remain in power and come to power in future with help of poverty of people and their illiteracy.She is much worried about Modi's rise in India and world.As usual she wants to say something to gain cheap pority.She wants to take side of those who have black Money.Didi, for god sake try to think of our bad economy and increasing black money.Be sensible and not get outburst with good move of NaMo.
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                  laxmi
                  Nov 8, 2016 at 9:51 pm
                  😢
                  Reply
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                    Ashay
                    Nov 8, 2016 at 7:39 pm
                    Are all bengalis so dense or she is a special case???lt;br/gt;I guess all are because they voted her to power.
                    Reply
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                      avi
                      Nov 8, 2016 at 8:45 pm
                      Mental Bannerji at her best again, for some personal reasons !!!
                      Reply
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                        Baren Swain
                        Nov 9, 2016 at 12:32 pm
                        Dear Madam Mamta,lt;br/gt;lt;br/gt;Again you prove that you are always with anti nationalist and many other terror activitis, we indian are better understand the value of Modi's master stroke. so plz stop it.
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                          BATKAL DAS
                          Nov 10, 2016 at 10:10 am
                          government has put fire to back of Mamatha for her black money to make this statement. Let her distribute her unused money to poor of W B.
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                            Partho
                            Nov 8, 2016 at 8:12 pm
                            "Didi" is upset because her funds for the elections are now ALL gone. And yes, like the other readers have pointed out so are her funds for her beloved illegal Bangladesh immigrants!!lt;br/gt;lt;br/gt;Namo Namo Modi!!!!lt;br/gt;lt;br/gt;Jai Hind
                            Reply
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                              Bir Chilarai
                              Nov 8, 2016 at 6:53 pm
                              Didi sounds like she has been hit by lightning. Why so? Everyone else (except black marketeers, corrupt people and terrorists) feel otherwise.
                              Reply
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                                Arun Dev
                                Nov 8, 2016 at 9:32 pm
                                I am from middle cl i don't have any problem. And if there is any problem i will suffer because after all those who looted over money and hiding they will loose everything. Now the politcians will cry because they are the person who is going to suffer more.😂😂
                                Reply
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                                  Kumar
                                  Nov 8, 2016 at 7:18 pm
                                  This decision by the PM Modi is to curb black money, corruption. Terrorism. However, some additional steps are necessary also to achieve these objectives. These are (i) to limit the amount of cash currency transaction (either for purchase or deposit or withdrawal) at any moment and in any given day. (ii) Purchases should be encouraged to be made through debit cards or credit cards; (iii) large transactions of money should be done through banks by wire transfer or money order/cashier checks etc.
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                                    Ghajabiram
                                    Nov 8, 2016 at 7:21 pm
                                    Didi - Is it because it will not help hawala guys who form a majority of your voters.
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                                      Ghajabiram
                                      Nov 8, 2016 at 7:22 pm
                                      SIT has said after investigations that a large amount of money is hidden in India, than outside. Being a CM I expect this to be known what is a known to a urban middle cl person. Otherwise she is not fit for being CM.
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                                        guru592006
                                        Nov 8, 2016 at 7:30 pm
                                        May be she is bothered about Sharda money stashed by her party men.
                                        Reply
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                                          harith
                                          Nov 8, 2016 at 10:43 pm
                                          crazywall, mamatha are good for shouting from roof tops; nothing else; their political and economic wisdom is -0000000000000000; no surprise
                                          Reply
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                                            Kay Gee
                                            Nov 8, 2016 at 10:39 pm
                                            I am a common men , I do not have single 500 and 1000 note. I am happy if govt stops upto 20 note.
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