HomeNewsTrendsCurrent AffairsDemonetisation: Probe how new Rs 2,000 notes reached hoarders, says Chidambaram

Demonetisation: Probe how new Rs 2,000 notes reached hoarders, says Chidambaram

"This is the biggest scam of the year. This is the one that should be investigated," Chidambaram said at a press conference.

December 14, 2016 / 07:52 IST
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Congress on Tuesday broadened its attack on demonetisation with former finance minister P Chidambaram calling for a probe into how freshy-minted Rs 2000 notes got into the hands of hoarders while there was an acute shortage in banks.

He said most people including him were struggling to get cash because it was not available in banks and ATMs while seizures by enforcement agencies showed bundles of Rs 2000 notes with hoarders.

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"This is the biggest scam of the year. This is the one that should be investigated," Chidambaram said at a press conference.

Accusing Prime Minister Narendra Modi of "shifting goalposts" by talking on cashless economy after initially pitching it as an anti-black money move Chidambaram said: "In his November 8 speech PM Modi mentioned the word black money 18 times. In his two speeches on November 27 he mentioned black money 8 times and cashless economy 27 times."

He pointed out that no country is actually cashless and that especially in India low-value transactions are always done in currency notes.