Congress leader Ghulam Nabi Azad on Thursday said that demonetisation did not fulfill any objective of the government.

“The government said demonetisation will end black money, counterfeit and terrorism but none of these objectives were met,” the Congress leader said in the Rajya Sabha.

“Money being seized across country. Was it transferred through banks? Its black money circulated by back door transactions,” the Congress leader asked and added that for first time in history, notes were printed without photo of father of the nation and there were notes with printing only on one side.

Highlighting the negative effects of the note ban policy, Azad said that over 120 people died due to the policy of demonetisation.

While addressing the session in the Rajya Sabha, he said, “Economists, across the world have downgraded our GDP growth rate as a result of demonetisation.”