Rs 500, Rs 1,000 note ban: Andhra CM questions the need to introduce Rs 2,000 notes

The introduction of Rs 2,000 currency notes would be like falling from the frying pan into the fire, Andhra Pradesh Chief Minister N Chandrababu Naidu said.

PTI November 10, 2016 08:37:37 IST
Rs 500, Rs 1,000 note ban: Andhra CM questions the need to introduce Rs 2,000 notes

Vijayawada: The proposed introduction of Rs 2,000 currency notes would be like falling from the frying pan into the fire, Andhra Pradesh Chief Minister N Chandrababu Naidu said on Wednesday and called for a debate on the move.

Rs 500 Rs 1000 note ban Andhra CM questions the need to introduce Rs 2000 notes

N Chandrababu Naidu. News 18

"I do not understand if RBI has any technical reasons (for coming out with the new value note). If so, it should tell us," he said at a press conference in Vijayawada.

He wondered if the Rs 2,000 currency notes were necessary and, if not, why were they being printed.

"I think it will not come. Some people are deliberately trying to mislead people," the Chief Minister observed.

"If indeed it comes, it will be like falling from the frying pan into the fire. It should not happen. The government should once for all put a full stop to it. If at all, you may release it as a temporary measure and then withdraw. There should be a debate on this," he said.

"If Rs 2,000 note had to be printed, it should be limited (in number) and should have surveillance. A Rs 200 is sufficient when you have banks and cheques. The Rs 2,000 note may be needed only if there are no banks," he maintained.

The government should take steps to ensure Rs 2,000 note is not in circulation during election time and that it is not hoarded, Naidu added.

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