Thiruvananthapuram: The chief of Kerala’s Vigilance and Anti-Corruption Bureau, Jacob Thomas, has spoken in support of the demonetisation drive by the federal Bharatiya Janata Party government.
The statement comes at a time when chief minister Pinarayi Vijayan and state finance minister T.M. Thomas Isaac have severely criticised the Narendra Modi government for its move, alleging that the shortage of currency has hit the common man the hardest.
VACB chief Jacob Thomas said the demonetisation exercise was an “appropriate” step in the government’s attempt to curb black money, adding that it was natural that there would be some inconveniences when such a drive against corruption was undertaken.
On Tuesday, seven days after prime minister Modi announced the demonetisation of Rs500 (Dh27) and Rs1,000 notes in India, long queues have continued in front of bank and ATM counters. The rush is mainly for getting smaller-denomination notes because those who have got the newly-printed Rs2,000 notes are unable to use it at shops for want of change.
In a related incident, police took into custody a man in Kozhikode who reportedly was in possession of Rs6.2 million worth of currency in higher-denomination notes. The man was taken to the Nadakkavu police station, and is being questioned.
While there is widespread anger about the unavailability of cash at banks and ATM counters, there are also many who are happy that the demonetisation exercise will lead to a crash in real estate prices. Many have taken to the social media to express their happiness about land prices falling, which will help them realise their dream of purchasing house plots and building their homes.
