fifty years ago June 9, 1971 Archives

From the Archives (June 9, 1971): Demonetisation meant to hit refugees

The Pakistan Government’s demonetisation of its currency in the denominations of Rs. 500 and Rs. 100 yesterday has been regarded in official circles here [June 8, New Delhi] as a deliberate move to inflict more hardship on the refugees who have crossed over to India. Pakistan’s decision to demonetise notes bearing the slogans, “Joy Bangla”, “Bangla Desh” and “Dacca” is also regarded as evidence of continued resistance within Bangla Desh to the reign of terror under the Pakistan Army. The Pakistan Government would not have found it necessary to declare these notes as ceasing to be legal tender, unless the circulation of these notes had assumed huge proportions.

UPI reports from Islamabad: The Pakistan Government claimed to-day that a large number of people were turning up at banks to surrender the notes. The authorities have ordered the banks to accept 500 rupee notes to-day and to-morrow and 100 rupee notes until Thursday.

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