NEW DELHI: The DMK and RJD termed the Narendra Modi government's demonetisation move "ill-conceived" and an "anti-people" step, saying it led to a "financial crisis" in the country.
DMK leader Tiruchi Siva said that the country is facing a "financial crisis" due to the central government's November 8 order of banning Rs 5,00 and Rs 1,000 notes.
He said that only six per cent black money was in cash and for that six per cent, the prime minister has put all people across the country in trouble.
"No results have arrived so far. It has been an ill-conceived and poorly implemented move," Siva said at a joint press conference of the opposition parties including Congress, the Trinamool Congress, the Rashtriya Janata Dal and others.
"There is no assurance that no black money will be generated in future. There is no actual figure that how much black money was deposited or recovered," Siva added.
RJD leader Jaiprakash Yadav said that his party had been opposing the move since beginning and his party president Lalu Prasad has also planned district level protests in Bihar.
"Cashless is baseless. Noteban is anti-poor and anti-people," Yadav said at the joint press conference here.