Thursday, February 5, 2026
ADVT 
India

Demonetisation Move To Create, Not Curb, Black Money: Kejriwal

IANS, 19 Nov, 2016 02:32 PM
    Continuing his attack on the Centre, Delhi Chief Minister Arvind Kejriwal on Saturday alleged the decision to demonetise 500 and 1,000 rupee notes was not aimed at curbing black money but to "create black money".
     
    The Aam Aadmi Party (AAP) leader reiterated that the November 8 demonetisation is the "biggest scam of independent India, involving Rs 8 lakh crore". 
     
    "(Prime Minister Narendra) Modi ji is not serious about curbing black money. His intention is not good. This decision is to create black money," Kejriwal said in a live video chat on his Facebook page. 
     
    "This is not Modi vs Kejriwal; now, it's Modi vs the rest of the country."
     
    The AAP national convener alleged that the State Bank of India has waived loans of Rs 6,000 crore sanctioned to 63 capitalists in three days after demonetisation announcement. 
     
    "(Liquor baron) Vijay Mallya is one of these capitalists, whose loan of Rs 1,200 crore has been waived by the State Bank of India," Kejriwal alleged. 
     
     
    Kejriwal said loans totalling Rs 8 lakh crore were sanctioned to big corporate houses run by these capitalists. He alleged that the corporate houses siphoned off the money or it was partly written off by banks.
     
    He said the Centre had already waived loans of Rs 1.14 lakh crore given to these corporate houses. 
     
    "This demonetisation is a conspiracy. The government expects to net 10-11 lakh crore rupees by asking people to surrender the spiked currency and write off the bad debts," the AAP leader said. 
     
    He appealed to the people to ponder as to how the launch of Rs 2,000 note will stop black money.
     
    "Earlier, you had to carry 50 notes of Rs 1,000; now you will have to carry half of the number of notes for the same amount. You tell -- will this (decision) encourage corruption and bribe or not? This will help the black money hoarders," Kejriwal said. 
     
    He cited an example from Gujarat where an official was caught three days ago while receiving Rs 3 lakh bribe in new Rs 2,000 notes. He also gave several other examples from Madhya Pradesh and Assam where government employees were caught red handed with bribes in 2,000 rupee notes. 
     
     
    "How did these people manage to exchange lakhs of rupees when people get to exchange only Rs 2,000 (earlier Rs 4,500 and Rs 4,000). It means black money hoarders are able to get money through the back door. Only the common man is being troubled," the Delhi Chief Minister said. 
     
    Kejriwal also accused Prime Minister Narendra Modi of corruption when he was Chief Minister of Gujarat, alleging there were Income Tax Department's documents that said two corporate houses had paid some Rs 40 crore bribe to Modi at that time.
     
    Showing some Income Tax files, Kejriwal said he was not aware about the veracity of these documents but stressed that an investigation should be conducted. 
     
    "The money spent during Modi's campaign (in the 2014 general elections) was not legal money. It was all black money. The Prime Minister should tell from whom and how much amount he had taken. He should ask those people to deposit their money (black) in banks," the AAP leader said. 
     
     
    "People are saying that Modi ji is the Prime Minister of the rich only and they have committed mistake by voting for him," he said. 

    MORE India ARTICLES

    Gujarat Again: Pregnant Woman, Dalits Attacked For Refusing To Remove Cow Carcass, 6 Held

    Gujarat Again: Pregnant Woman, Dalits Attacked For Refusing To Remove Cow Carcass, 6 Held
    The incident was reported from Mota Karja village in Amirgadh taluka in which Nileshbhai Dhunabhai Ranavasia and his family was thrashed on Friday night because they refused to go the fields of the assailants to remove carcass of cattle.

    Gujarat Again: Pregnant Woman, Dalits Attacked For Refusing To Remove Cow Carcass, 6 Held

    India Must Take Retaliatory Action For Uri Attack: Amarinder Singh

    "While the nature and type of retaliation should be decided by the army, it must at no cost let the perpetrators of the terror attack go unpunished," he told reporters here.

    India Must Take Retaliatory Action For Uri Attack: Amarinder Singh

    International Sikh Conclave Ends As Patna Prepares For 'Prakash Parv' In January Next Year

    International Sikh Conclave Ends As Patna Prepares For 'Prakash Parv' In January Next Year
    It is a matter of great opportunity and challenge for the state government to organise the 350th birth anniversary of Guru Gobind Singh Maharaj as ‘Prakash Parv’ who was the 10th Guru of Sikhs

    International Sikh Conclave Ends As Patna Prepares For 'Prakash Parv' In January Next Year

    Nawaz Sharif's UN Speech A Monumental Error Of Judgement: Hardeep Singh Puri

    Nawaz Sharif's UN Speech A Monumental Error Of Judgement: Hardeep Singh Puri
    Absent good advice, democratically-elected leaders are capable of making serious mistakes which have far-reaching repercussions on the future of their country. 

    Nawaz Sharif's UN Speech A Monumental Error Of Judgement: Hardeep Singh Puri

    'Harassed' By Akali Leader, 4 Of Family Commit Suicide In Faridkot

    'Harassed' By Akali Leader, 4 Of Family Commit Suicide In Faridkot
    Jagtar Singh (48), a pickle-maker, his wife Salwinder Kaur (46) and two unmarried daughters Harbhajan Kaur and Parveen Kaur took the extreme step by jumping in Rajasthan Feeder canal in Faridkot, they said.

    'Harassed' By Akali Leader, 4 Of Family Commit Suicide In Faridkot

    Mumbai Police Assures Security To Pak Artistes As Raj Thackrey's Party Asks Them To Leave India

    Mumbai Police Assures Security To Pak Artistes As Raj Thackrey's Party Asks Them To Leave India
    The Maharashtra Navnirman Sena (MNS) on Friday gave a 48-hour ultimatum to all Pakistani cine and television artistes here to quit India or face consequences.

    Mumbai Police Assures Security To Pak Artistes As Raj Thackrey's Party Asks Them To Leave India