Demonetisation anniversary LIVE Updates: The Congress will hold a nationwide protest demanding Prime Minister Narendra Modi’s apology to the country for “ruining and wrecking” the economy on the second anniversary of demonetisation. Congress spokesperson Manish Tewari slammed the government for attempting a “Tughlaqi” experiment and said that the prime minister stood two years ago on November 8 and addressed the nation, demonetising almost currency worth Rs 16.99 lakh crore in circulation.
“The three reasons given for demonetisation were that it would curb black money, weed out fake notes and proscribe terror financing, but two years later none of those objectives have materialised,” Tiwari said. He added that there is more cash in circulation today than it was two years ago when Modi announced demonetisation.
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On November 8, 2016, PM Modi had discontinued the Rs 500 and Rs 1,000 notes with immediate effect during a televised speech. The move had led to chaos in the country as the sudden withdrawal of notes led to a liquidity shortage, with long queues outside banks.