Patna: The RJD will hold rallies in each of Bihar's 38 districts on November 8 to mark one year of demonetisation and observe it as a "black day".

Prime Minister Narendra Modi had announced the note ban on November 8 last year, and RJD chief Lalu Prasad on Monday said the decision destroyed the country's economy.

"The demonetisation badly hit the farmers, labourers, students, homemakers and the unorganised sector," Lalu said on Monday before leaving for Chhapra, the district headquarters town of Saran district, on a personal visit.

He recalled that people had to stand in long queues to exchange their Rs 500 and Rs 1,000 notes and several people died in bank lines.

The people of the country are aware of the devastation the Modi government's "whimsical" decision wreaked, Lalu said.

"The GDP of the country dropped. The younger generation are running around for jobs and essential commodities have become costly. It was only people like Ambani and Adani who were able to make their black money white. The BJP made its black money white and it was deposited in banks," he alleged.

He said his party would hold mega rallies across Bihar in protest against the Modi government's decision.

Demonetisation was one of the issues that led to the JDU-RJD-Congress Grand Alliance falling out.

While the RJD toed the line of the Congress to oppose the Modi government's move, chief minister Nitish Kumar came out in favour of demonetisation albeit with a few barbs later on implementation of the scheme. He praised the Prime Minister for taking a "bold step" to weed out black money from the economy and even urged Modi to go further to unearth benami property. Despite Congress leaders making repeated pleas, Nitish stood his ground. It led to a war of words between the alliance partners, and Nitish jumped ship to tie up with the BJP.

Lalu had gone hammer and tongs at the Centre over demonetisation from the get go, braving jabs from opponents that he was opposing the move to save his black money.

The RJD had planned to hold a massive rally at Gandhi Maidan in Patna early this year against demonetisation, but that could not take shape after the BJP won a landslide victory in the Uttar Pradesh Assembly elections and even the Congress toned down its offensive against the note ban. Now, Lalu seems to have trained his guns on Modi over the issue again.