Pinarayi Vijayan slams BJP: With 50% rise in Swiss deposits, Centre’s note ban exercise exposed

Chief Minister of Kerala Pinarayi Vijayan demanded an apology from the BJP-led NDA government for all the “pain” caused due to demonetisation. (File Photo) 

Reacting to media reports that money parked by Indians in Swiss banks rose over 50 per cent last year, Kerala Chief Minister Pinarayi Vijayan on Friday demanded an apology from the BJP-led NDA government for all the “pain” caused due to demonetisation.

“With the money stashed away by Indians in Swiss banks rising by 50% in 2017 compared with previous years, the demonetisation exercise by the Centre stands thoroughly exposed. There was no gain for all that pain. This govt owes people an apology,” Vijayan tweeted.

Money deposited by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India’s clampdown on suspected black money stashed there.