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    Congress gives guarded reaction to demonetisation

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    The Congress party on Wednesday said it will support the central government’s move demonetising Rs 500 and Rs 1,000 denomination currency notes if it is really meant to curb the menace of black money.

    “If the purpose of the decision is to curb menace of black money then it deserves our support,” former Finance Minister and senior Congress leader P. Chidambaram said here in a briefing.

    He said the government would be on test in replacing the older notes “quickly and efficiently”, to cause least inconvenience to the people.

    On Tuesday evening, Prime Minister Narendra Modi announced that Rs 500 and Rs 1,000 denomination currency notes will cease to be legal tender from the midnight of November 8 as part of a string of measures to fight black money as well as funding of terror outfits.

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