In a first, Nitish asks how many people benefited from demonetisation

May 27, 2018 14:46

Bihar Chief Minister Nitish Kumar on Saturday questioned the benefits of the much-hyped decision to demonetise high-value currency by the Modi government in 2016.

He also slammed banks that allegedly helped rich and powerful manage their cash post demonetisation announcement.

"I was a supporter of demonetisation...but how many people benefited from it? Some powerful people shifted their cash from one place to another," he said.

Questioning the conduct of banks, he asked: "You [banks] are very particular about recovering debts from small people, but what about those powerful people who take loans and disappear?"

Pressing for a need to reform the system, he said, "It is surprising that even the highest officers are unaware. [The] banking system needs reform. I am not criticising, I am concerned," he said.

The Janata Dal-United chief has been a vocal supporter of demonetisation even when he was part of the Opposition.

This was the first time when he has questioned the benefits of demonetisation.

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