In a joint press release, AAP state president Bhagwant Mann, Leader of opposition Sukhpal Singh Khaira and co- president Aman Arora said it was one of the "worst" decisions of Prime Minister Narendra Modi.
They said it was taken at a time when economic growth was already low and industrialists, farmers and other communities were struggling to find their pace.
AAP leaders and volunteers, along with farmers and industrialists, held protests across the state.
They alleged that Modi's claims about demonetisation bringing back black money and helping curbing terrorism had fallen flat.
Khaira said the decision of demonetisation affected the agriculture sector to a large extent as farmers dealt in cash rather than plastic money.
"The farmer community is already passing through a bad phase and committing suicides so the decision of note ban further weakened the community," he said.
Arora said the decision had further "deepened the crisis of unemployment and eligible youths were roaming without jobs".
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