Former Finance Minister P Chidambaram said the new RBI cap on deposits of demonetised currency had left the poor and middle class high and dry on Tuesday.
"Desperate government resorting to desperate measures," the Congress leader tweeted in reaction to the Reserve Bank of India's decision to put curbs on deposits in banks of the old currency.
(1/4) Desperate govt resorting to desperate measures. Breaking PM's promise of Nov 8 and FM's assurance of Nov 11
— P. Chidambaram (@PChidambaram_IN) December 20, 2016
(2/4) RBI makes new rule on deposit, FM contradicts. Who should citizen believe? Neither has credibility
— P. Chidambaram (@PChidambaram_IN) December 20, 2016
(3/4) Hoarders have laundered their old notes. The poor and middle class left high and dry
— P. Chidambaram (@PChidambaram_IN) December 20, 2016
(4/4) Old notes usable until Dec 15. Why can't we deposit remaining notes until Dec 30 as notified?
— P. Chidambaram (@PChidambaram_IN) December 20, 2016
He said the RBI announcement of Monday that people cannot deposit over Rs 5,000 in 500 and 1,000 rupee notes more than once amounted to breaking Prime Minister Narendra Modi's promise of November 8 and Finance Minister Arun Jaitley's assurance of November 11 that all the demonetised currency will be accepted till December 30 without any restrictions.
On Tuesday, Jaitley clarified that people won't be questioned if they deposit old currency of any amount at one go.
"RBI makes new rule on deposit, FM contradicts. Who should citizen believe? Neither has credibility," Chidambaram said.