Centre blamed for cash crunch

Left parties stage dharna demanding reintroduction of ` 1,000 and ` 500 notes

Visakhapatnam: Leaders and activists of city units of CPM and CPI and allied organisations staged a dharna at SBI main branch near Central Park protesting against the Central government decision to denotify high denomination notes.

The leaders demanded reintroduction of Rs 500 and Rs 1,000 till the banks were equipped with smaller denominations and withdrawal of Rs 2,000 new currency note which they said would lead to amassing of black money afresh in the country.

CPM city secretary Dr B Ganga Rao said Prime Minister Narendra Modi has been trying to convince the people that the spiked currency helped terrorism and accumulation of black money, but he did not realise the sufferings being faced by the common people who have been standing in queues for days to get smaller notes to purchase food and medicines.

Demanding recall of Rs 2,000 currency note, Ganga Rao said it was unfortunate that the Prime Minister did not realise that the bigger notes would double and speed up the amassing of black money. District secretary of CPI A J Stalin said on the eve of general elections, Narendra Modi had announced that 90 per cent of the black money was stashed abroad and if elected, he would bring all the money and debit Rs 15 lakh in each and every individual account. Two and half years have passed and not a rupee has been recovered from foreign banks.

“In order to mislead the public, the Prime Minister announced cancellation of bigger currencies,” Stalin said.