Demonetisation: Modi's 'war' on black money hits BSP, JD(U)

A Ghaziabad unit president of the Bahujan Samaj Party (BSP) and a senior leader in the Delhi unit of Janata Dal (United) were among the first political victims of the Modi government’s crack down on black money.

Both the leaders were seen on camera offering to exchange the scrapped currency with newly introduced notes, during a series of sting operations conducted by India Today, a Delhi-based news organisation.

BSP’s Virendra Jatav was suspended from the the party on Wednesday. Jatav had offered to exchange Rs 10 crore in old currency from an undercover reporter for newer currency notes, for a 35 to 40 per cent cut.

The comments on exchanging old currency by JD(U)’s Delhi vice-president, also caught on camera, haven’t reportedly gone down with party president and Bihar chief Minister Nitish Kumar.

Saini reportedly fell for the undercover reporter’s made-up offer too, as he asked for a cut to get Rs 10 crore in old currency notes exchanged for newer ones.

The India Today sting reportedly also captured a Samajwadi Party leader asking for 40 percent cut to swap old currency notes with the newer ones.

A member of India’s main opposition party, Congress, was seen on camera as he offered to introduce the India Today journalist to a contact who could exchange old currency as well.

Indian government on Nov 8 nixed Rs 500 and 1000-rupee notes, a move that many believe would shake up the cash reliant Indian economy for the better or for worse.