The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement on November 18.

THE Polit Bureau of the CPI(M) reiterates that till adequate supply of currency notes are available, transactions with old notes should be allowed till December 30, the date announced by the government after which they will be illegal. The people of the country are being subjected to extremely inhuman harassment and collapse of their day-to-day livelihood. There are reports that already around 47 deaths have taken place owing to this decision.

The PB strongly condemns the further callous steps taken by the Modi government which will intensify the suffering of the people caused by the utterly ill conceived decision of illegalising 1000 and 500 rupees currency notes. Instead of immediate measures to bring relief to the people, the government has now reduced the limit of exchanging notes per person from Rs 4,500 to Rs. 2,000.  This will hit hard the poorer sections who will have to spend that much more time converting their meager cash savings.

The decision to make a PAN card compulsory to open an account has made it impossible for the urban and rural poor to open a bank account.  The informal sector workers who constitute the bulk of the working class are unable to get their cash wages. It is extremely difficult, in the present circumstances, for them to open a bank account given the rush in the banks.

The cooperative banking sector is being severely damaged by the ban on their accepting and exchanging notes. This is causing hardships to millions of farmers and the rural populace. The CPI(M) demands that the RBI immediately allow district and primary cooperative banks to conduct such transactions. The Polit Bureau condemns these decisions and demands that they be scrapped.

The Polit Bureau calls upon all its units to intensify the protests on these demands and build a united movement.