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Speaking ti the protestors on the 2nd anniversary of demonetization, former minister B Ramanath Rai said, “The decision of demonetization has destroyed the live of millions of people and completely ruined thousands of small and micro business in India. Though Modi government has promised eradication of black money hoarding, no such miracle has happened after demonetization. Instead, scores of poor people suffered a lot while the owners of corporate companies went unscathed,” he said.
Mr Rai opposed the decision of merging Vijaya Bank with Dena Bank and Bank of Baroda, the former minister opinioned that it would not help anyone. “Though government is citing the burden of Non-Performing Assets (NPA), it is not taking any action against Vijay Mallya and Neerva Modi who have cheated banks to the tune of Rs 9,300 crore and Rs 13,000 crore respectively. Merging a bank with other banks is not the solution to the NPA issue,” said Rai.
Demonetisation, a futile move
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