Demonetisation only increasing people's suffering: Lalu

Rashtriya Janata Dal (RJD) President Lalu Prasad on Thursday said Prime Minister Narendra Modi's decision to scrap high value currency notes in the name of fighting black money is only increasing the suffering and hardship of the nation's citizens.

Terming the demonetisation drive a failed exercise, Lalu told ANI that the party will organise a rally to protest against the currency ban.

"Our stand is very clear; our ministers and party workers will do a rally and protest regarding demonetisation. People's sufferings have increased in these 50 days. The currency note has become a mere piece of paper. The situation is deteriorating day by day. Modi has lied that he will normalise the situation. The people of the nation don't trust Modi now," he said.

Meanwhile, Finance Minister Arun Jaitley today claimed that the remonetisation exercise has been done to a sizeable extent and that the entire process has been successful.

"Not a single untoward incident was reported in the country after demonetisation," Jaitley said, thanking the people of India for backing Modi's November 8 move.

On the currency crisis, Jaitley said, "RBI has very large currency available; large part of currency has been replaced and more notes of Rs 500 are being released.