Seizure of new notes shows corruption at RBI, currency chests and banks: Chidambaram on demonetisation

Former Finance Minister P Chidambaram on Friday addressed the media in New Delhi over Prime Minister Narendra Modi’s demonetisation move. Chidambaram has criticised the currency ban move on various occasions in the past.

Here are the Live updates:

#Compared to 15' number of security personnel who lost lives in J&K doubled in 16'. Situation worsened instead of getting better

#Was there a bill on GST in Parliament last session? Totally incorrect and unfair to blame Opposition for non-passage of bill

#No evidence that terror is funded by fake currency only; fact is that in J&K, since Sept30, 33 security personnel lost their lives

#Single case (of NDA Govt) of mismanagement, administration collapse & widespread corruption

#Even RBI has said GDP will take a hit by 0.5% so the FM must pose questions to RBI and RBI will answer

#Increase in tax revenues has no direct correlation with the performance in GDP

#There is a mistake in assuming that people who are patient are not angry

#Seizure of new notes shows corruption at RBI, currency chests & banks, Demonetisation is mismanagement and administrative collapse

#There is no guarantee that black money will not be found and bribes will not be taken in new currency notes