KERALA

RBI says it has enough cash

Currency notes being loaded into a van at the SBT Statue Branch to be distributed to its branches and ATMs in Thiruvananthapuram on Sunday.— Photo: S.Mahinsha

Currency notes being loaded into a van at the SBT Statue Branch to be distributed to its branches and ATMs in Thiruvananthapuram on Sunday.— Photo: S.Mahinsha  

Political opposition to demonetisation decision intensifies

The political opposition to the demonetisation of Rs.500 and Rs.1,000 denomination notes intensified with Leader of the Opposition Ramesh Chenithala accusing Prime Minister Narendra Modi of plunging the nation into chaos and the CPI State council announcing an agitation, even as the Reserve Bank of India (RBI) assures the public that banks have enough stocks of small denomination currency for distribution.

A press note quoting Mr. Chennithala said here on Sunday that the hasty decision to withdraw the currency notes without alternate arrangements had left the common man high and dry. “People are forced to stand in long queues to withdraw cash, ATMs have run dry and banks are helpless to supply cash.”

Mr. Chennithala said the Prime Minister had left for Japan after making the dramatic announcement, leaving the country struggling to handle the crisis. He said the demonetisation had not affected black money holders, it had only dealt a cruel blow for the poorer sections.

CPI march

The CPI will take out a march to the RBI offices in Thiruvananthapuram and Kochi and offices of the SBI in other districts on Tuesday to protest the snap decision to demonetise currency notes.

Meanwhile, a pressnote quoting S.M.N. Swamy, Regional Director, RBI, said enough cash in small denominations was available at the RBI and banks. It said the public need not come to banks repeatedly to draw money. “Cash is available when they need it,” he said.

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