India rupee ban: Opposition parties begin 'day of rage'

Indian opposition parties say thousands of people will participate in nationwide protests against the BJP Government's ban on 500 and 1,...

Indian opposition parties say thousands of people will participate in nationwide protests against the BJP Government's ban on 500 and 1,000 currency notes. Oppositions argue that it causes bedlam as people lined up at banks to exchange their old currency. Indian Prime Minister Narendra Modi has defended the decision saying it was an anti-corruption measure. And the opposition parties says that the move was wreck. The Kerala State ruled by the Communists is likely to see a shutdown while a major protest reunite has been planned in the eastern city of Kolkata. In Bangalore Congress party will hold a protest march where up to 4,000 people are expected to participate, according to sources.

In India about 90% of transactions are in cash and many people don't have a bank account. PM Modi called on people to clutch digital payments and use less cash. The former Prime Minister Manmohan Singh said that the government's move to ban the much-used banknotes was ‘monumental mismanagement’ and that the gross domestic product (GDP) would fall by about 2%. There have been chaotic scenes in India ever since the currency ban was announced two weeks ago.