TN governor hails Modi's demonetisation move

TN governor hails Modi’s demonetisation move

CH Vidyasagar Rao, Governor of Tamil Nadu and Maharashtra,  has  lauded Prime Minister Narendra Modi’s ‘bold and brave decision’ to demonetise Rs.500 and Rs1,000 notes.

In a statement, he said that this will help to curb counterfeit currency, and the fake currency used by terrorists & anti-social elements.

The Governor stated that this will further help to unearth black money and would add more value to India’s Rupee and pave the way for economic prosperity.

Government of India has cancelled the Legal Tender status of Rs. 500 and Rs. 1000 denominations of bank notes of the existing series and announced that from 10-11-2016 onwards public can exchange their notes and deposit the old currencies as well at the Banks and Post Offices.

MDMK general secretary Vaiko said Prime Minister Modi deserved praise as he had delivered a deadly blow to black money holders who had been running a parallel economy.

Welcoming the demonetisation move, DMK chief K Karunanidhi asked the Centre to take steps to ensure that ordinary people and small traders who try to exchange the invalidated notes are not affected.