We just recently noticed that TMC who have been themselves proven corrupted are rallying against PM’s move of demonetization with coalition with AAP and their Arch nemesis CPM but what’s their real reason ?

Mamata Banerjee is not supporting the move because of two main reasons:-

  • This decision is taken by Modi government and Mamata is hell bound to oppose Modi.
  • With this decision, all the black money earned by her party members from the Sarada Chit Fund is either going to be worthless papers or will be detected by the government.


A. The backstory of Mamata’s hatred for Modi :-

On Feb 5, 2014, Modi came to West Bengal for his election campaign. In his election speech, he congratulated people of West Bengal for eliminating the communist regime from West Bengal after 34 years and bringing a change. He gave a statement- “But is the change showing?

He actually wanted to form an alliance with TMC and asked people of West Bengal to help BJP win seats from West Bengal so that “BJP at center and TMC at state” can do development for people of West Bengal.

He also said- “Those who fought in the name of the laborers all these years, have they done anything for their real development? Today, West Bengal is falling behind in every field.” By these sentences, he targeted the CPM and forwarded his hand towards Mamata Banerjee. But Mamata took it on herself. When Modi said- “But is the change showing?” Mamata took it as a question on her ability as a CM. That was the reason behind Mamata’s animosity against Modi.


B.  TMC, corruption, and Black Money:

Mamata’s paintings get sold at crores: Mamata Banerjee’s hobby is painting. Her painting gets sold at Rs. 1.8 crores and sometimes even at Rs. 4 crores. The greatest wonder is that her paintings fetch more money than what M.F. Hussain’s controversial paintings used to fetch. Mamata must be a better painter than Hussain.


  • CM Mamata Banerjee very talented, her paintings sold for Rs 1.86 crore: Abdul Mannan
  • From Rs 2 Cr to 9 Cr in 48 Hrs: Mamata Paints Bank Balance Green

C. The Sarada Chit Fund Scam:

The Saradha Group scandal was a financial scam. It happened due to the collapse of a scheme run by Saradha Group. The group collected money of Rs. 200 – 300 billion from more than 1.7 million depositors. The group collapsed in April 2013.

main-qimg-aba2ce25de72a2d7c9fc2e04e2e0f488-cThis collapse came as a blow to many investors all over West Bengal. Some investors were also from adjoining states like Assam, Odisha, etc. Many poor people like auto drivers, labors, house maids, etc had invested their savings of lifetime with a hope for a better future. Many investors had committed suicide after this shock. Many innocent Sarada agents also committed suicide out of pressure; some even faced heart attack.

TMC party members are themselves involved in the much infamous Sarada Chit Fund scam. They have acquired a huge sum under their share.

When the group collapsed, many investors went bankrupt. To generate money so that Rs. 500 crore can be given back to the investors, Mamata increased VAT on tobacco. The CM asked people of West Bengal to smoke a bit more so that Rs. 500 crore can be raised. But she couldn’t take out money from her own party members who had made a lot of black money from this scam. Instead, people’s money has been given back to people.

Not only this, even the DA of government employees were kept on hold to raise Rs. 500 crore to pay back the investors. Still, not a single money came out from the pockets of politicians who were involved in Sarada scam.

D. The Narada Sting Operation:

To bring out the corrupt face of the TMC party leaders & members, a fictitious company was formed. The name of the company was Impex Consultancy. Several ministers and leaders from TMC party were approached to seek favors & privileges for the company. The favors, of course, were not free and the bribe was offered. I am putting down a list of leaders who agreed to help in exchange for a price of course:

  1. Mukul Roy: He is former union and railway minister. Took 20 Lakh.
  2. Madan Mitra: Former transport minister. Took 5 Lakh.
  3. Sovan Chatterjee: He is Mayor of Kolkata. Took 5 Lakh
  4. Sugata Roy: Former union minister. Took 5 Lakh
  5. Subrata Mukherjee: Minister for panchayat and rural development. Took 5 Lakh.
  6. Prasoon Banerjee: Member of Parliament. Took 4 Lakh.
  7. Suvendhu Adhikari: TMC youth wing president. Took 5 Lakh.
  8. Kakoli Ghosh Dastidar: Member of Parliament. Took 4 Lakh.
  9. Sultan Ahmed: Former union minister & Member of Parliament. Took 5 Lakh.
  10. MH Ahmed Mirza: Senior police officer. Took 5 Lakh.
  11. Iqbal Ahmed: Member of West Bengal assembly. Took 5 Lakh.
  12. Farhad Hakim: Minister of Urban development. Took 5 Lakh.

The sting operation was carried out by Narada News agency. That a quite long list. Still, Mamata Banerjee, during her election campaign claimed that “this was a mistake by some member of her party”. She admits her mistakes and yet asks voters to vote for her.

Let me take a quotation from Hindustan Times,

Striking an apologetic tone during a public rally at Kulti on Wednesday, Banerjee said, “I am at fault. I take responsibility for all the mistakes. You can be angry with me, but please don’t deprive Trinamool Congress of your blessings. Otherwise, it will be difficult for me to tread my path alone.”

E. Syndicate Raj in West Bengal:

main-qimg-f7544aeaa5c5823dce30964863329193-cSyndicate is an extortion racket that runs in areas where real estate is growing and blooming. Unemployed men & goons work for the ruling party. They use violence and threat to force contractors into buying inferior building materials from them at a premium price fixed by the goons.

TMC politicians have made a lot of black money by these notorious activities. Their black money was increasing day by day. But now due to demonetization, all their black money either will be under government’s radar or will turn into useless papers. Mamata’s pain can be easily understood.

F. Malda, the capital of fake currency note, is facing the heat of demonetization: People may know about the recent riot at Kaliachak, Malda in Jan 2016. This place is a notorious place for many reasons.

  • It shares the border with Bangladesh, hence a lot of illegal Bangladeshi immigrants are settled here.
  • An opium business is booming high in the locality.
  • The residents are also involved in the business of fake currency notes. It is easy to understand the magnitude of fake currency notes produced here by the nickname given to this place “Capital of fake currency notes”.

The money earned from this place is used in cross-border terrorism, smuggling, hawala business, etc. The money earned from here even goes to Pakistan via the route of Nepal & CoK. Mamata Banerjee has been totally silent on this fake note production. A lot of these immigrants are her vote banks. Many people have even alleged that a fraction of money earned from this fake note business goes into her party fund.

G. To oppose demonetization, TMC is allying with its arch nemesis:

It is no rocket science to know that TMC and CPM are arch nemesis. They have an enmity which is older than 20 years. But to oppose demonetization, TMC is seeking help from that decades-old arch nemesis. Mamata Banerjee has asked Sitaram Yechuri to unite against Modi’s demonetization policy. Who says that snake and mongoose can’t be friends? Laloo & Nitish proved that before. Now Mamata & Yechuri are doing the same. This is called Ghor Kalyug (Age of Downfall).

That’s the whole story why Mamata Banerjee is not supporting the 500 & 1000 rupee ban. She and her party members are themselves involved in corruption and hence, they are worried due to demonetization.



One thought on “Why Mamata Banerjee is against the ban of 500 and 1000 notes ?

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