Stopping old notes exchange a betrayal: CPI-M

The Communist Party of India-Marxist (CPI-M) on Friday dubbed the central government's move to stop the over-the-counter exchange of demonetised Rs 500 and Rs 1,000 currency notes a "betrayal".

The party also reiterated its demand that all transactions with the spiked notes be allowed till alternative arrangements are made.

"The government has betrayed the commitment made by Prime Minister Narendra Modi on November 8 that people will be allowed to exchange the old Rs 500 and Rs 1,000 notes till December 30," the CPI-M said in a statement.

"Not only that, he had further stated that the limit for the exchange of old notes will be increased from November 25 till December 30. The Reserve Bank of India (RBI) had also in its press release on November 11 stated that the exchange of old notes would be available for nearly 50 days -- till December 30," the statement said.

The party said the government's Thursday's move to stop the exchange of old notes was "unilateral" and an "onslaught on the people's right to their own money".

"This will put the common people into further difficulties and increase the sufferings of the poorer sections as many of them do not have bank accounts. The government has also made it impossible for them to open accounts without a PAN card," said the party.

"The CPI-M strongly condemns this latest onslaught on the people's right to their own money and to spend it as they deem fit. It reiterates the demand that all transactions with the old notes should be allowed till alternative arrangement for supply of new notes is made," the statement said.

It also called for building public opinion against these "anti-people measures of the Modi government" and make the all India protest call on November 28 a big success.