Prime Minister Narendra Modi’s claim (“Demonetisation flushed out black money, says Modi”, Feb.8), has to be supported by facts and figures. It is well known that during the phase of depositing ‘banned notes’, IT raids showed that there was circulation of black money in ₹2,000 notes. The Centre has glossed over the hardship caused to the common man who is still reeling under the after-effects of a cash crunch. The introduction of the ₹2,000 note has added insult to injury as there is still a shortage of smaller denomination notes. The change in dimensions of bank notes was another ill-conceived move at it has meant the recalibration of lakhs of ATM machines which have only ended up causing more problems. Demonetisation has caused a loss of business, acute hardship to poor farmers and labourers, and needless visits to banks and ATMs. It appears to be business as usual for the bribe-givers and takers. A note ban is only one step in curbing black money.
D.B.N. Murthy,
Bengaluru
