PM Modi-led government looted people during demonetisation, alleges Kapil Sibal

Prime Minister Narendra Modi-led NDA government at the Centre looted the people's money by banning the notes of Rs 500 and Rs 1,000 denominations during demonetisation in 2016, alleged senior Congress party leader Kapil Sibal on Tuesday.

Releasing a video here at a press conference which showed the exchange of banned notes with the new currencies at the commission of 15 per cent to 40 per cent, Sibal said: "It is another proof of how Prime Minister Modi-led government looted people by banning the notes of Rs 500 and Rs 1,000 denominations during demonetisation in 2016."

Claiming that an official of India's elite intelligence agency--Research and Analysis Wing (RAW) and that of IndusInd Bank were allegedly involved in the exchange of banned notes, Sibal said: "The video shows the exchange of demonetised notes with the new ones in a government godown in Maharashtra." He said the video has been made by a journalist but refused to give details citing security reasons.

Asking the government to investigate the matter and arrest those seen in the video, he said: "The alacrity with which the Enforcement Directorate (ED) searches people, it can arrest these people (featured in the video) and tell the country what the truth is."

"Will ED, CBI, and the government arrest these people," he asked.

Sibal also accused the ED of protecting those "who loot the country."

"Our agencies investigate the opposition parties but they would not do the same when it comes to their (BJP) Chief Ministers and Union Minister," Sibal alleged.

Opposition leaders including Sharad Yadav, Ahmed Patel, Ghulam Nabi Azad and Mallikarjun Kharge had on March 26 also released video, allegations large scale fraudulent exchange of notes during demonetisation.