Demonetisation biggest fraud, says Derek O'Brien, shares Modi's speech

Trinamool Congress leader Derek O'Brien on Saturday described the demonetisation in 2016 as the "biggest fraud on Indians", while sharing an excerpt from Prime Minister Narendra Modi's speech days after the note ban was announced.

Sharing a post on X on the anniversary of the note ban, the Trinamool Congress Rajya Sabha leader also shared his own speech from Parliament post-demonetisation.

"On this day, exactly nine years ago, the biggest fraud on Indians. Demonetisation. PM Narendra Modi outside Parliament versus us, inside Parliament," O'Brien said in a post on X.

The video shared by the TMC MP showed an excerpt from Modi's speech post-demonetisation, where he sought 50 days to evaluate the impact of the decision.

"If after December 30, there are shortcomings in my work or there are mistakes or a bad intention found in my work, I will be prepared for the punishment that the country decides for me," Modi said in the video.

O'Brien also shared his own speech from the Rajya Sabha, where he quoted TMC chief and West Bengal Chief Minister Mamata Banerjee.

"While I am strongly against black money and corruption, and am deeply concerned about common people, small traders, how will they buy essentials tomorrow? This is financial chaos, disaster let loose on the common people of India," he said.

Demonetisation was announced by Prime Minister Modi on November 8, 2016, following which Rs 1000 and Rs 500 notes in circulation stopped being legal tender from midnight that day. The notes at that time accounted for approximately 86 per cent of the total currency in circulation.