Former Finance Minister P Chidambaram on Tuesday termed the demonetisation move as the “biggest scam of the year” and demanded a probe on the move.
“This is the biggest scam of the year and must be investigated,” Chidambaram said in his address to reporters in Nagpur.
“Every bank says there is no cash. So how does the government say there is enough cash? That is why Dr Manmohan Singh called demonetisation a monumental mismanagement,” he added.
He said that the absurd move has been criticised by economists and media all over the world and the government should have consulted economists like Manmohan Singh before implementing the “thoughtless move”.
Mentioning about the crisis faced by co-operative banking sector, he said “Why are district cooperative central banks kept out of this whole exercise? Keeping out cooperative banks is punishing farmers. There is no money for them to buy supplies.”
Criticising government’s goal shift to cashless economy, he said “It is like motherhood and apple pie. No one speaks against them; similarly no one will speak against cashless society.”
