Condemning the Union Government for failing to take precautionary measures before demonetising the high value currency notes, members of ‘Confederation of Tamil Nadu Traders’ Associations’ staged a demonstration here on Tuesday.
They said the demonetisation of Rs. 500 and Rs. 1,000 currency notes that came into force without any precautionary steps taken to assuage the problems being encountered by traders and the common man had derailed trading completely.
Though new Rs. 2,000 currency note was released it failed to check the magnitude of the problem.
Situation worsened
The absence of new 500 rupee note for financial transactions and the non-availability of Rs. 100 and Rs. 50 notes made the situation from bad to worse.
“Moreover, the restrictions imposed on withdrawal of cash from the current and savings bank account have hit the public, especially the traders. Hence, the Central Government that miserably failed to foresee the impact of demonetisation should expedite the remedial measures,” the speakers at the protest venue stressed.
Tirunelveli Regional Chairman of the Confederation M.R. Subramanian presided over the agitation in which office-bearers K. Murugesan, M.R. Gunasekaran, R.P.K. Selvakumar, M. Panneerselvam, and G. Stephen Premkumar spoke.
