Congress to observe Black Day on second anniversary of demonetisation on Nov 8

New Delhi, Nov 5: The Congress party will observe 'black day' across the nation on November 8 to mark the second anniversary of demonetisation, which was announced by Prime Minister Narendra Modi in 2016, said an ANI report while quoting sources.

On November 8, 2016, Prime Minister Modi had announced that the then existing Rs 500 and Rs 1,000 would cease to be legal tenders. The government in one swift move withdrew over Rs 15 lakh crores of cash from the system causing acute cash crunch. The government issued new notes of Rs 500 and Rs 2,000 to replace the withdrawn currency.

The government said that the move was aimed at curbing black money menace, corruption and funding of terror activities.

The announcement of demonetisation was followed by prolonged cash shortages in the weeks that followed, which created significant disruption throughout the economy.

The Congress has been criticising the Modi government's demonetisation move. The Congress criticised the move as being poorly planned and slammed the government for causing great inconvenience to people...