PT demands white paper on release of new notes

Puthiya Tamizhagam President K Krishnasamy today alleged that new Rs 2000 and Rs 500 notes had been released through three private banks instead of nationalised banks and demanded a white paper on the issue.
Though it had been stated that nearly five lakh crore worth new currency notes had been released for circulation, public still faced cash crunch, resulting in heavy loss to the traders, poor and middle class people, he told reporters here.
He said RBI had released the new notes through the private banks instead of the nationalised banks which cater to 90 per cent of the population and sought a white paper on why this was done.

Though the intention of Prime Minister Narendra Modi was good and could help in preventing corruption and control black money and terrorists activities, the government skidded in implementation part, Krishnasamy added.