Naidu's Reversal On Demonetization Issue

In a reverse of policy on the recent ban on the 500 and 1,000 currency bills, Andhra Pradesh Chief Minister N Chandrababu Naidu today expressed serious concerns and displeasure at the unending problems being faced by the general public due to the scrapping of the high value notes.

Naidu, an ally of the BJP-led NDA government at the Centre, had earlier recommended that the Centre scrap the two currency bills in order to curb black money and tax evasion. But now, the CM made a direct attack on the Centre for the unrest among people at the banks and ATMs to draw their money.

"It has been 12 days since the ban was made, but the Centre is yet to resolve the problems being faced by the middle-class and the poor in its aftermath. I did not see such an unabated situation for 12 straight days in my entire political career," Naidu deplored.

He urged the Centre to exhort people to use Jan Dhan accounts and Rupay Cards.

He called for an emergency review meeting with RBI, Collectors, SLBC officials and the police to discuss the implications of demonetization and possible solutions. He also suggested opening of call centers at the banks.

Naidu pointed out that the State received Rs. 1,200 crores from the Centre, including Rs. 400 crores in Rs. 1,000 denomination, and said that the State government would not use the money.

He said that notices would be served against banks if they fail to comply with his instructions. The police should take care of law and order situation and ensure that peace prevailed in the State. This comes after the Supreme Court's observation that if the aftermath of the move goes on, there might be riots in the nation.

The AP CM concluded that the crisis should not target anyone including the common man, the rich and the poor. He said that the focus should be solely on the corrupt.