Business
LDF to observe shutdown against demonetisation
Thiruvananthapuram, Nov 24: Kerala's ruling LDF will observe a shutdown on Monday to denounce the demonetisation of high value currency which has left the cooperative banks in turmoil.
Left Democratic Front convenor Vaikom Viswan made the announcement in a statement.
"The state-wide shutdown will be from dawn to dusk," the statement said, adding it was also to protest against the "rash" conduct of Prime Minister Narendra Modi.
Modi reportedly declined to meet an all-party delegation led by Kerala Chief Minister Pinarayi Vijayan to brief him about the problems faced by the cooperative sector.
On November 8, the central government declared that Rs 500 and 1,000 notes would no more be legal tender.
Two days later, permission was withdrawn for the 1,600 odd primary cooperative societies from accepting or exchanging the spiked currencies, creating widespread resentment in Kerala.
The cooperative banking sector in Kerala is a three-tier system with about 1,600 primary cooperative banks attached to 14 district banks, which are further linked to the apex Kerala State Cooperative Bank (KSCB).
The total deposit in the cooperative banks, says Kerala Cooperation Minister A.C. Moideen, is around Rs 1.27 lakh crore.
12 hours ago
Karnataka bypolls: Nikhil Kumaraswamy named NDA candidate from Channapatna Assembly seat
12 hours ago
Congress not to field candidates in UP Assembly bypolls, announces support for Samajwadi Party
12 hours ago
FM Sitharaman, World Bank President discuss issues related to private capital participation in Global Public Goods
12 hours ago
Large turnout for early voters in US swing state Georgia; focus on economy, people's rights
13 hours ago
19-Year-Old Sikh Woman Tragically Dies While Working at Walmart in Halifax, Canada
13 hours ago
OpenAI Names Indian-American Economist Dr. Aaron Chatterji as Its First Chief Economist
13 hours ago
We have long recognised and experienced Khalistani extremism, says Canadian MP Chandra Arya
13 hours ago
Canada: Dissident MPs call for Trudeau's resignation, deadline set for October 28
13 hours ago
US-India partnership vital for preserving peace in Indo-Pacific region: Former White House official Lisa Curtis
14 hours ago
Threats to U.S. Democracy: A Viewpoint
15 hours ago
Justice Siddaiah Rachaiah appointed permanent judge in Karnataka HC
15 hours ago
Alia Bhatt turns makeup artist, asks fans, “Kisko tutorial chahiye?”
16 hours ago
Dharmendra bonds with ‘diehard’ fan on holiday