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Probe Massive Jump In Bank Deposits Before Demonetisation

04 December 2016
Probe Massive Jump In Bank Deposits Before Demonetisation

Before they would say Money Money.

"Corruption has snatched the rights of the poor, it has been the root of all ills".

Modi took a dig at his political opponents who have denounced the surprise decision to recall almost 86 per cent of currency in circulation that has caused an unprecedented cash crunch in India.

The PM said only the honest can queue up outside the banks to deposit the money, while the corrupt are standing outside the houses of poor.

Modi said the previous Governments had made India stand in queues for everything. "I want to ask those politicians who are crying over these long queues".

Amid thunderous applause, the prime minister further said, "This is for the last time the people are standing in queues as his efforts would bring a qualitative change in the life of conman man who had been suffering for the last 70 years".

Modi's controversial remarks smacked of class warfare and went down well with the crowd but attracted criticism that he is condoning those who allowed their accounts to be used for laundering.

Modi's decision last month to scrap 500 rupee and 1,000 rupee banknotes as part of a crackdown on tax dodgers and counterfeiters has caused a currency crunch in a country where most people are paid in cash and buy what they need with cash.

Modi referred to a WhatsApp video about a beggar while arguing in favour of demonetisation. He said, after note ban move, black money is coming out and the corrupt are depositing it into the accounts of the poor. "Corruption has looted the country and destroyed the poor and it won't go away by the mere sight of me", he said and, seeking to touch an emotional chord, added, "Today I am being pronounced guilty in my own country for fighting corruption". I am surprised that in my own country a few people are accusing me.

"All those who are Jan Dhan account holders, you should not return the money that others have put in your accounts".

#You the people are my high command and no one else.

Addressing a huge rally here, the prime minister said, "I am fighting corruption and leaders are unitedly fighting me".

Modi also said that he had no vested interest.

What can my opponents do to me? "I am a fakir (hermit).jhola ley kar chaley jayenge (I will exit with my little belongings)", he said.