Hyderabad: Former Union minister S. Jaipal Reddy on Tuesday said that by announcing demonetisation, Prime Minister Narendra Modi had thrown the people into a “cashless crisis.” Mr Modi had landed himself in deep trouble and was unable to offer any solace to the people standing in long queues.
Speaking to mediapersons at Gandhi Bhavan on Tuesday, Mr Jaipal Reddy said no amount of praise was not enough for the people who had shown utmost patience. But the cashless economy envisaged by the Prime Minister would not happen here.
He said he had reliable information that RBI officials had advised Mr Modi to take time before announcing demonetisation but he had not obliged. He referred to the many incidents of people being arrested with bundles of Rs 2,000 notes, and asked the Prime Minister: “What explanation would you offer for such glaring irregularities by bank officials.”
