CPI(M) polit bureau member B.V. Raghavulu has alleged that the Union government demonetised Rs. 500 and Rs. 1,000 notes only to benefit the corporate sector. The online companies (e-commerce) would earn more in India compared to the U.S., Canada and other countries. Prime Minister Narendra Modi was helping these companies with initiatives such as demonetisation, which was like a home delivery for them.
There was no truth in the government claims that secrecy was maintained to ensure that corrupt people would not get alerted that higher denomination currency would be withdrawn. On the one hand, the RBI says that the exercise was going on for the last six months, while on the other, the government claims that secrecy was maintained, he pointed out.