Modi ignoring common man, assails DMK

DMK treasurer and Tamil Nadu Opposition Leader MK Stalin said the Centre was coming up with all kinds of announcements “as if they are giving sops” to people ever since the Rs 1,000 and old Rs 500 currency ceased to be legal tenders. “Former Prime Minister Manmohan Singh put it beautifully when he called it (the way demonetisation was being implemented) a monumental management failure,” he said, referring to the former’s criticism of the government in the Rajya Sabha on Thursday. Meanwhile, in Puducherry the leaders of CPI and CPI (M) held demonstrations in front of different bank branches. They alleged that the Centre leaving behind huge industrial units, those who cheated banks by not repaying loans among others has given much trouble to the poor.

In the aftermath of demonetisation, the retailers here have started approaching the banks for Point of Sale (POS) machines. But most of them are put in wait list due to excess of demand for the machines. Bank officials say that they have asked their headquarters to double the actual supply. The distribution is being made on seniority basis, they added.

“I have applied for a machine on November 10 with Indian bank after the demonetisation move was announced and banks commenced their functioning. But as on November 24, I was told by the bank that there are around 2,500 requests waiting before me and so I find no other go but to be patient,” said G Venkatesh, a small time furniture shop owner at Melapudhur in Tiruchy. An official from the Indian bank said, applications for POS machines have been pouring in and the increase is almost five fold at present. “Earlier, we used to distribute around 120 machines in a week, but the demand now is for more than 500 such machines. We give preference to traders who have chain of shops and have been our high valued customers,” the official added.