Demonestisation killed 1.5 million jobs – BEFI

Demonestisation killed 1.5 million jobs – BEFI

Organise Protest Against Ill Effects of Demonetisation – Bank Employees Federation of India
Circular No. 29/2017

To all Units, office Bearers, CC & GC Members


Dear comrades,
Demonestisation killed 1.5 million jobs
Hold demonstration in all State Capitals

Demonestisation of currency notes of Rs. 1000 and Rs. 500 was announced on 8th November 2016 and one year is goint to be completed on 7th November next after the announcement made by the Hon’ble Prime Minister going beyond the provisions of Reserve Bank of India Act.

The annual report published by Reserve Bank of India recently reveals that Rs. 15.28 lakhs crores or 99% of Rs. 15.44 lakhs crores scrapped currency notes came back to the system after demonetization. The annual report also stated that only Rs. 16000 crores of demonetised currency was not deposited with the banks.

While announcing demonetization, Govt. boasted it as a fight against black money, funding for terrorists and counterfeit currency but all have fallen flat, With the 99% of currency notes exchanged legally, the question arises, was the demonetization a scheme designed to convert black money into white.

Demonetisation has claimed lives of more than 100 innocent citizen of our country including more than 10 bank employees and officers. The Government is solely responsible for this loss of lives. But the irony of the thing is that the Central Cabinet in a Press communique stated that there has not been any loss of live due to demonetisation.

The claims pronounced at the time of demonetization having been proved to be a hoax and to divert the attention of the common people from the ill effects of demonetization, the Government has taken the move for digitization of the payment system in the interest of fintech companies like Paytm, jio money etc. Such step will have disastrous effect on our banking system.
As per survey report made by Centre for Monitoring Indian Economy (CMIE) demonetization has killed more than 1.5 million jobs.

Centering round demonetization we organised several programs in the last year. In the backdrop of Government’s move to divert the attention of the people from the damage caused to our economy and the interest of the common people particularly the workface in the informal sector, we feel it duty bound to raise our voice of protest once again against the ill effects of demonetization.

As decided in our last Central Committee meeting held in Delhi, we call upon our units to organise protest demonstrations/rallies/meetings in all State capitals and major centres on a day falling between 8th November to 15th November 2017 as per local convenience.

With greetings,

Yours comradely,


Popular posts from this blog

Central Government Office Holiday List 2023 - DoPT Order PDF Download

7th CPC Pay Fixation on Promotion/MACP Calculator with Matrix Table

Revised Pay Scale from 1.7.2017 for Karnataka Govt Employees