The CM termed the demonetisation as "fraud" on the nation aimed at benefiting a "particular political party", a veiled reference to BJP.
Kejriwal tabled a resolution in the Delhi Assembly in this regard during its one-day emergency session which lasted for two-and-a-half hours.
Reading out the resolution, Kejriwal noted "with anger and anguish" that the Prime Minister has delivered a "huge blow" to the common people and Indian ecomomy through his address to the nation on November 8.
"I urge upon the President to direct the central government to withdraw at once the draconian demonetisation scheme...To take necessary steps to institute a high-level probe to be monitored by the Supreme Court to look into the allegations that the scheme is a fraud on the nation..
"...And that it has been launched to benefit a particular political party through its agents in black money market," Kejriwal said while tabling his resolution.
He also said common man is being "lectured" on patriotism.
The Delhi CM also alleged that Prime Minister is not "acting against people named in Panama list" as many on it are his "friends".
"Centre waived 1.14 lakh crore loan of industrialists, but common people are being threatened (of action) if they deposit more than 2.5 lakh in their account," Kejriwal said.
BJP MLAs Vijender Gupta and Jagdish Pradhan walked out protesting against it.
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