The Communist Party of India (Marxist) will hold a special programme in 14 district headquarters in the state where Prime Minister Narendra Modi would face a mock trial and would be hanged.

Soon after Modi announced the spiking of Rs 500 and Rs 1,000 notes and people ended up spending long hours in front of ATMs and banks, Modi himself said that people can 'hang him', if the demonetisation exercise does not turn out to be a success.

The decision to organise the protest was decided at the CPI-M State Committee meeting that concluded here. State Secretary Kodiyeri Balakrishnan told reporters on Wednesday, that the demonetisation was effected to please the corporates.

"The end result is that Kerala's economy has gone for a toss and each and every sector has been badly affected. We are going to launch a protest with the support of the people," said Balakrishnan.

"The state government will seek the Centre's help to see that the RBI offices at Thiruvananthapuram and Kochi are given permission to accept the spiked currencies from Kerala," he said.

Former Chief Minister V.S. Achuthanandan said that demonetisation was a fraudulent step and was handled by Modi and Finance Minister Arun Jaitley alone.

"The very fact that the Finance Ministry is issuing numerous releases clearly shows that the RBI had no clue of what is happening. This was meant to please the 'Adanis' and the 'Ambanis' and for that, the common man has been fleeced," said Achuthanandan.

In a related development, the weekly cabinet meeting held here on Wednesday, decided to give Rs 2 lakh to the families of people who died waiting in ATM and bank queues.