Mangaluru: “Step taken to eradicate the plague of fake notes by demonetising Rs 500 and Rs 1000 currency notes by PM Narendra Modi is a brave step,” said former minister Krishna J Palemar.

Speaking to the reporters on Tuesday at district BJP office, he said that Indian economy can see growth gradually by the decision of Narendra Modi. He should take step towards bringing out the black money which has been transformed into gold, property and foreign currency.

“President of India has also appreciated PM Narendra Modi for demonetising the currency notes. This shows that India will become super power in future,” he said.

He further said that some are spreading false information regarding exchange of old Rs 500 and Rs 1000 notes. Some are doing this for commission purpose.

“No one should involve in such work and the people should be aware of such frauds and thereby helping the government to control black money and terrorism,” he added.

BJP Leader Dr Y Bharath Shetty, Rajesh Kottary, Shobhendra and others were present.