On the evening of 8 November, 2016, Prime Minister Modi, in a televised address to the nation, declared Rs 500 and Rs 1000 notes as illegal tender, midnight on.
What followed was a frenzied people rushing to the banks. Serpent lines stretched for miles outside banks and ATMs, card transactions increased and digital transaction apps started being used even by vegetable vendors. The ATMs often ran out of cash within half a day. According to several new reports demonetisation has caused at least 100 deaths.
A year since, while the Government is celebrating “Anti Black Money Day” with claims that demonetisation has cleansed India’s financial system, brought down terror, and prostitution, the Opposition is marking a “Black Day”. Former Prime Minister Manmohan Singh labelled the move “Organised loot” and more recently said that the "twin blow" of demonetisation and the "badly-designed" and "hastily-implemented" Goods and Services Tax (GST) was a "complete disaster" for India's economy.
— Narendra Modi (@narendramodi) November 8, 2017
— Congress (@INCIndia) November 8, 2017
In the video above people give their views on the contentious issue.
Updated Date: Nov 08, 2017 12:33 PM