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'Panel had suggested demonetisation to PM'

Last Updated 12 November 2016, 20:39 IST

Convenor of the Anti-Land Grabbing Action Committee A T Ramaswamy on Saturday said the Centre’s decision to demonetise Rs 500 and Rs 1,000 notes, was a “revolutionary” move.

Addressing the media in Bengaluru on Saturday, Ramaswamy said that his committee had submitted a proposal comprising eight aspects to Prime Minister Narendra Modi to crack down on black money, including demonetisation of Rs 500 and Rs 1,000 notes, on January 12.

He however said that this alone was not enough. The Centre should ensure that the production of counterfeit currency is stopped. Citing that B R Ambedkar had stressed that currencies should be demonetised once every 20 years in his book ‘The Problem of the Rupee: its origin and its solution’, Ramaswamy sought periodical demonetisation of the Indian currency. Freedom fighter H S Doreswamy, who was also present, said that protests will be held during the legislature session in Belagavi, seeking amendments to the Land Reforms Act.

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(Published 12 November 2016, 20:39 IST)

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