PM must atone for unleashing financial anarchy on country: Congress

Launching a scathing attack on Prime Minister Narendra Modi for "unleashing financial anarchy on the country" and "inflicting sufferings on millions of people" by demonetising Rs. 500 and Rs.1000 currencies, the Deputy Leader of Opposition in the Rajya Sabha, Anand Sharma, said the Prime Minister should come to parliament and accept his "blunder".

"Prime Minister Modi, instead of accepting the blunder, is actually changing positions on a daily basis. He must be held accountable and if he has any honour and shame left, he should come to parliament, apologise and atone for unleashing financial anarchy on this country and inflicting sufferings on millions of people. The country which was recognised as one of the largest democracies has turned into a banana republic," said Sharma.

Criticising the government for handing out incentives to people using digital transactions, Sharma said it was a cruel joke as more than 73 crore people are unbanked.

"What the Finance Minister has said is a cruel joke in a country where officially, as per the RBI, 43 percent are unbanked and 80 percent of India has no internet connectivity. What he has said today is a desperate act to mislead and confuse. Less than three percent of people use credit cards and debit cards. As per the World Bank's Financial Inclusion report 11 percent of India has done cheque transactions. How can you transform India to cashless society overnight," he asked.

Sharma further said the demonetisation has shutdown India's economy and made it cashless.

"He has shutdown India's economy and made India cashless in any case because banks have gone bankrupt, ATMS are running empty and the cash that has been sent to the villages is literally Rs.300 per account," he said.

The Congress leaders' comments came in sharp response to the government incentivising people on use of credit and debit cards.