Mumbai, Nov 8 (PTI)The Shiv Sena Thursday said people were waiting to punish Prime Minister Narendra Modi for announcing demonetisation two years ago.

On November 8, 2016, PM Modi announced a ban on then in use Rs 1,000 and Rs 500 denomination bank notes with immediate effect.

The Sena, a constituent of the BJP-led governments at the Centre and in Maharashtra, claimed the note ban exercise was a "complete failure" as none of its objectives were achieved.

"While the (Union) Finance Minister says more number of people have been brought under the tax net, he has failed to explain the rationale behind it (demonetisation) as several lakh people lost jobs," Sena spokesperson Manisha Kayande said Thursday.

She said elimination of terrorism and curb on fake currency, also touted as reasons for the demonetisation exercise, could not be achieved either.

"The situation after two years has become so bad that people are waiting to punish the PM," she said.

Kayande further claimed the "ongoing feud" between the Union Finance minister and RBI Governor will only deepen the economic crisis in the country and make foreign investors wary of investing here.

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