

MUMBAI: With the RBI announcing that almost all the demonetised currency notes have returned to the system, Congress leader Mallikarjun Kharge on Wednesday said the note-ban has failed and Prime Minister Narendra Modi should be ready to face "punishment".

The Reserve Bank of India (RBI) today announced that 99.3 per cent of the scrapped Rs 500 and Rs 1,000 notes have returned to the system, prompting the Opposition to question the efficacy of demonetisation in curbing the black money menace.

Speaking to reporters here, Kharge claimed his party has opposed demonetisation right from day one.

The RBI report proved that the BJP-led government's claim of combating corruption, terrorism and black money through demonetisation was wrong, Kharge said.

"We have been saying this in Parliament. He (prime minister Narendra Modi) announced demonetisation to tackle corruption, terrorism, black money. But has it happened?" Kharge asked.

Asked by a reporter about Modi's "punish me if I have made any mistake" comment after demonetisation, Kharge said, "I will ask him in the (Parliament) session that sahab, you had stated so, so where should we punish you? In Vijay Chowk (in New Delhi) or somewhere else?...I will remind him about this."

As much as 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, the RBI said today.

Of the Rs 15.41 lakh crore worth Rs 500 and Rs 1,000 notes in circulation on November 8, 2016, when the note ban was announced, notes worth Rs 15.31 lakh crore have been returned.

Facing criticism in the aftermath of demonetisation, the prime minister had said he was ready to face any punishment the country would give him if "there are shortcomings in my work or there are mistakes or bad intention found in my work".

