demonetisation-protest

Communist Party of India (CPI) organized Hisab do ,Jawwab do dharana in front front of RBI offices at Mumbai and Nagpur. The entire country is in the grip of crisis caused by demonetization, dramatically announceed on 8th November, 2016. Farmers, student’s workers of Nagpur and Mumbai joined raising slogans against demonetization. It was a huge gathering of 1000 people in Mumbai and 3000 people in Nagpur.

CPI had had organized this agitation program to make government accountable and answerable towards masses. Country of this country would like to know the facts as a matter of democratic rights. The RBI seems to have maintained a studied silence , while the Central ministers , led by the prime minister , and others are making certain claims and counterclaims , which only RBI should clarify.

While addressing the agitating mob , Vishwas Utagai , Vice President All India Bank Employees Association (AIBEA) said , The role of RBI is to questioned “Decision making body RBI is reduced to an obedient servant of Prime minister’s office . The decisions regarding management of Post demonetization affairs has been carried out without following RBI rules and due process of law.

CPI Maharashtra state secretary  Dr. Bhalchandra Kango addressed, ” The demonetization efforts were futile, no purpose was served in digging the black money. On contrary it was an attempt to convert the black money into white.

Namdeo Gawade explained the problems faced by the formers. He said, “The demonetization will result in lowering down the agriculture produce and hampered the interest of farmers.

Rajan Kshirsagar said employment in agrarian sector and that in rural area is adversely affected due to loss of jobs due to currency crunch. No the corporate but agricultural laborers had to lose jobs.


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2 Comments

  1. K SHESHU BABU says:

    The protests should be organised throughout the Country by all parties opposing demonetisation and awareness programs should be conducted in remote areas to protest and pressurise government to realistically consider the sufferings of people due to lopsided policies

  2. samir sardana says:

    The Entire DEMO EXERCISE is a GIGANTIC FRAUD AND A DISASTER OF THE BRAIN OF NARENDRA MODI

    1.Even the RBI initially accepted the disaster – but later went along like all lackeys and Indian weasels.as under: The minutes of the RBI Board Meeting which took place just a few hours BEFORE the execution of the DEMO DRIVE stated as under:

    • “It (demonetisation) is a commendable measure but will have short-term negative effect on GDP for the current year,” read the minutes of the RBI board meeting.
    • “Most of the black money is held not in the form of cash but in the form of real sector assets such as gold or real estate and that this move would not have a material impact on those assets,” the board observed in its 561st meeting held in Delhi.

    2.THERE HAS BEEN NO IMPACT OF DEMO ON SO CALLED TERROR IN INDIA AS THE NUMBER OF THESE ATTACKS AND THE CASUALTIES OF INDIAN SOLDIERS AND CIVILIANS HAS INCREASED AFTER THE DEMO DRIVE

    3.THERE HAS BEEN NO IMPACT OF DEMO ON SO CALLED DRUG TRADE IN INDIA AS THE NUMBER OF THESE SEIZURES AND THE HAS INCREASED AFTER THE DEMO DRIVE

    4.AS PER THE RBI REPORTS THE COUNTERFEIT CURRENCIES OF RS 50 AND RS 100 NOTES HAS INCREASED BY 50% AS THE COUNTERFEITERS HAVE FOCUSSED THEIR TECHNOLOGY ON THESE NOTES.THAT IT BECAUSE THE COUNTERFEITERS ARE TAKING TIME TO PERFECT THE COUNTERFEITING OF THE RS 500 AND RS 2000 NOTES AND ITS SUPPLY CHAIN OF PRINTING, DISTRIBUTION, STOCKING AND DISSEMINATION

    5.THE GOI/RBI STATISTICS ON COUNTERFEIT RS 500 AND RS 2000 ARE MISLEADING.THESE NOTES ARE NOT COMING INTO THE BANKING SYSTEM AT THE SAME FREQUENCY AS IN 2017.IF THE NOTES DO NOT COME INTO THE BANKS THE FAKES ARE NOT DETECTED.THEREFORE THE RBI STATISTIC IS FALSE AND MISLEADING

    6.AS PER RBI REPORTS,THE FLOWS OF RS 2000 NOTES INTO THE BANKS HAS REDUCED OVER THE YEARS AND BANKS ARE DOLING OUT LESS AND LESS RS 2000 NOTES.THAT MEANS THE RS 2000 NOTES ARE BEING WAREHOUSED BY THE MARKET – FOR MONEY LAUNDERING AND BLACK MARKETING.THAT DEFEATS THE PURPOSE OF DEMO AND MAKES THE CASE FOR DEMO – PART 2 FOR THE RS 2000 NOTES

    7.THE ABOVE PROVES THAT THE ENTIRE DEMO DRIVE WAS BOGUS AND NOT BECAUSE ALL THE CASH CAME BACK INTO THE SYSTEM.IT IS BECAUSE ALL THE AIMS FAILED (AS ABOVE)

    8.AS PER THE RBI REPORT,RS 11000 CRORES OF CASH DID NOT COME INTO THE BANKING SYSTEM. HOWEVER , THAT IS ALSO A MISLEADING STATISTIC AS

    • THE RBI HAS SPENT RS 10000 CRORES IN THE LAST 3 YEARS TO PRINT THE NEW NOTES
    • COULD RS 11000 CRORES WHICH IS 0.6% OF THE CASH THAT CAME INTO THE BANKS,REPRESENT THE SOILED,DAMAGED NOTES OR FORGOTTEN CASH OR CASH OUTSIDE INDIAN WHICH COULD NOT RETURN TO INDIA DUE TO THE FEAR OF QUESTIONING AND PROSECUTION – BUT IS LEGIT MONEY ? THAT WOULD BE A CASE OF THE INDIAN STATE CHEATING ITS CITIZENS
    o THIS RS 11OOO CRORES IS NOT COUNTERFEIT AS IT IS ASSUMED THAT THESE ARE SERIALLY NUMBERED NOTES
    • HAS RBI ACCOUNTED FOR EACH LEGITIMATE CODE NUMBERED CURRENCY NOTE WHILE CALCULATING THE RS 11 CRORES AMOUNT OR IS IT BASED ON A DEDUCTIVE FIGURE ? DEDUCTIVE FIGURES ARE BASED ON ASSUMPTIONS OF COUNTERFEITS AND DAMAGED NOTES.

    9.THE RBI REPORT DOES NOT STATE THE VALIUE OF THE COUNTERFEIT CURRENCY EXCHANGED FOR GOOD NOTES IN THE DEMO DRIVE.THAT IS A PURE LOSS OF THE DEMO DRIVE AND WAS A FOOL PROOF MODE OF CONVERTING CURRENCY AT POST OFFICES,COOPERATIVES AND BANKS IN TIER 2 AND 3 CITIES

    10.IT MUST BE NOTED THAT IF COUNTERFEIT CURRENCY IS SENT INTO INDIA BY A STATE ACTOR,THEN IT IS ONLY REASONABLE TO ASSUME THAT THE SAME HAS ALREADY BEGUN AND IS MORE PROFITABLE THAN BEFORE.

    • THE RBI HAS NOT RELEASED THE STATISTICS FOR THE NEW NOTES BEING COUNTERFEITED.
    • EVEN IF THE CASES ARE LESS IT WOULD BE SUBJECT TO PARA 10.5 ABOVE.
    • ALSO,A COUNTERFEIT IS COUNTED BY THE RBI ONLY IF IT IS DETECTED.GOOD COUNTERFEITS ARE NOT DETECTED.
    • AS A MATTER OF RECORD,PAKISTAN’S MINT PRINTS CURRENCIES FOR SEVERAL NATIONS INCLUDING GCC NATIONS,WITH FAR MORE STRINGENT QUALITY NORMS AND SEVERE SAFETY AND RISK FEATURES THAN THE INDIAN RUPEE.

    11.IT IS A MATTER OF RECORD THAT THE SMEs HAVE BEEN DESTROYED BY DEMO AND GST AND THEIR OUTPUT HAS BEEN TAKEN OVER BY LARGE CORPORATES – AND THAT IS WHY THE GST AND POWER DEMAND IS HIGHER THAN BEFORE.BUT 100s OF MILLIONS OF LABOUR ARE UNEMPLOYED AND SMEs ARE DESTROYED FOREVER. dindooohindoo

    12.IN LIGHT OF ALL OF THE ABOVE,WHAT IS THE BENEFIT OF THE DEMO DRIVE ? WAS THERE A SINGLE BENEFIT TO THE NATION ? THAT IS WHY THE INFORMATION SOUGHT BY THE APPELLANT IS IN PUBLIC AND NATIONAL INTEREST

    13.BESIDES THE ABOVE ,THE DEMO FRAUD AND THE DEMO C OUNTERFEIT FRAUD ( WHEREIN THE COUNTERFEITS ARE EXCHANGED FOR REAL CURRENCY) – IS NOT STATED IN THE RBI REPORT

    • THERE IS NO REPORT IN THE MEDIA, OF ANY RECOVERY MADE FROM THE CONVERTERS BY THE DRI/ED

    14.HAS THE RBI DATA ON DEMO BEEN AUDITED BY A 3 RD PARTY ? HAS THE RS 15 LAC CRORES OF NOTES BEEN CHECKED FOR EACH CODE NUMBER AND WATERMARK AND COUNTERFEIT ?

    • IF NOT,THEN THE NOTES MAY INCLUDE COUNTERFEITS.
    o IF YES,THEN THE ESTIMATED COUNTERFEIT AS SAY 3% OF THE AGGREGATE CASH IN INDIA – WOULD BE A BENEFIT – WHICH THE RBI HAS NOT HIGHLIGHTED IN THE REPORT.DOES THAT MEAN THAT THE COUNTERFEITS ARE IN THE NOTES SUBMITTED AND EACH NOTE HAS NOT BEEN VERIFIED.
    • EVEN IF THE COUNTERFEITS WERE CHECKED AND FOUND OUT AFTER THE EXCHANGE AND AFTER MANY MONTHS, THE DATA OF THE SAME AND THE ACTION ON THE DEPOSITORS (SINCE CCTVs CAPTURE THE DEPOSITOR),IS IN PUBLIC INTEREST