Nitish Kumar has second thoughts on demonetisation; BJP rephrases his words

Bihar Chief Minister Nitish Kumar today alleged that banks did not implement demonetisation in a proper manner, and said people could not receive benefits to the desired extent owing to it.

Addressing a quarterly review meeting of state-level bankers' committee here, Kumar also made an indirect reference to recent scams like the PNB fraud, stating that big defaulters were able to obtain huge loans and escape from the country, while the poor had to face stringent recovery steps.

"Banks are so strict in recovering amounts lent to small-scale borrowers. Why the same strictness is not shown in the case of big defaulters?" he wondered.

Kumar, the JD(U) national president, had come out in support of the demonetisation measure when he was in the Grand Alliance comprising the RJD and the Congress.

"I had supported note ban. But because of the role played by banks, people could not be benefited to the extent they should have. People deposited huge amounts in scrapped currency and the money was laundered," he said.