Dena Bank in Gujarat pelted in drive against demonetisation | business-news | Hindustan Times
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Dena Bank in Gujarat pelted in drive against demonetisation

On the 60th day of after prime minister Narendra Modi announced demonetisation -- the situation, which sucked out 86% of the country’s bank notes in circulation -- a Dena Bank branch in Khimana village in Gujarat was pelted with stones.

business Updated: Jan 09, 2017 12:53 IST
Sunny Sen
A Dena Bank branch
A Dena Bank branch(Mint)

A day after two-thirds of petrol pump owners refused to accept credit and debit cards after banks decided to levy transaction fees, protest against demonetisation continues in various parts of the country.

On the 60th day of after prime minister Narendra Modi announced demonetisation -- the situation, which sucked out 86% of the country’s bank notes in circulation -- a Dena Bank branch in Khimana village in Gujarat was pelted with stones.

There have been no specific reports on injuries. There were also some incidents of protests in the Northeast.

Though the truce between the petrol pump owners and banks over charging transaction fees was brokered, but that leaves an over hanging problem, which the government will have to deal with.

Demonetisation has also resulted in a series of job losses.

A study by All India Manufacturers’ Organisation shows that in the first 34 days alone there small and medium scale industries witnessed 50% drop in revenue, and 35% of the jobs were lost.

The report further detailed that the small and medium industries will further witness 60% drop in revenue and 55% of the jobs will be lost, before March.