Modi at Agra Rally: People With Chit Funds Doubting Note Ban Move

“Does the country not know whose money was invested in chit fund business?” Modi said while addressing the crowd.

Narendra Modi launched his flagship housing scheme ‘Pradhan Mantri Gramin Awas Yojna’ on Sunday. (Photo Courtesy: Press Information Bureau)

Prime Minister Narendra Modi on Sunday said that political leaders behind multi-crore chit fund scams are attacking him on demonetisation, in remarks that can be viewed as a sharp attack on West Bengal Chief Minister Mamata Banerjee.

Modi said this while talking at a ‘Parivartan Rally’ in Agra, where he launched his flagship housing scheme ‘Pradhan Mantri Gramin Awas Yojna’. Designed entirely for the rural masses, the ambitious scheme aims to provide affordable houses to all those living below the poverty line by the year 2022.

Hitting out at the Congress, Modi further said that governments in the past 70 years kept quiet on black money issue because they were worried about losing power.

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Speaking extensively on the demonetisation policy, Modi cautioned people holding Jan Dhan accounts to not allow themselves to be used for laundering money of the rich.

“I know what sort of people are raising their voice against me? Does the country not know whose money was invested in chit fund business? Lakhs and crores of poor people invested money in chit funds. But with the blessings of politicians, crores and crores of rupees have vanished”.

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“Due to chit fund loss, hundreds of head of families were forced to commit suicide. Look at the history and they are questioning me,” he said in barbs probably aimed at Banerjee, who had been rallying political leaders against the demonetisation decision.

He also reassured the country that everybody “will emerge victorious” after the move which for the government was a “test by fire”.

“As I said on the very first day when I announced the decision, it is a time-consuming process. It will cause inconvenience and a little hardship but, I believe, the nation will come out victorious from this test by fire,” Modi said at the rally.

He said his government has been flexible in implementing the demonetisation decision and effected alterations as the need arose.

“I have asked for 50 days. It's been just 10 days and over 5,000 crore rupees have already been deposited in banks... the banks will infuse this money in the markets,” he added.

(With inputs from IANS and PTI.)