The central government announced the invalidation of Rs.1000 and Rs.500 rupees currency notes. Since this announcement, people from middle class and lower middle class have been greatly impacted.
Political parties and the public is protesting against the demonetisation. Employees of Life Insurance Corporation (LIC) of India today conducted a protest condemning the demonetisation process of central government. This protest was hosted before the LIC office that is located on Trichy road in Coimbatore.
The protestors allege that following the demonetisation of high value currency, the central government has failed to provide a solution, which has resulted in a cash crisis. The protestors stated that the central government had allowed the usage of the demonetised currency notes in petrol banks, private companies, and banks, but the government directed the LIC of India not to collect insurance premiums in the old currency.
Thus, more than 30-crore customers have been unable to pay their premium till now. LIC employees union has stated that the central government should take steps to bring back normalcy in the life of people in the country.