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New Delhi: Nationalist Congress Party (NCP) President Sharad Pawar on Monday said that the decision to withdraw Rs 2,000 currency notes was an act of a “moody person”. Speaking to reporters in Pune, the veteran leader said that after demonetisation, institutions like the Pune District Central Cooperative Bank suffered as several crores of rupees lying with it could not be exchanged with the Reserve Bank of India (RBI).
Sharad Pawar said, “It is like a moody person’s decision. I have received some complaints about the decision to demonetise Rs 2000 notes.”
He said that when demonetisation was announced in November 2016, the government had said that a miracle would happen, but we found people dying by suicide and industries shutting down after suffering losses.
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His response came after the RBI on May 19 announced the withdrawal of Rs 2,000 notes from circulation and said that the existing notes in circulation can either be deposited in bank accounts or exchanged till September 30.
Withdrawal of Rs 2,000 notes part of ‘currency management’: RBI governor
RBI Governor Shaktikanta Das on Monday said the withdrawal of Rs 2,000 banknotes is part of the Reserve Bank’s “currency management operation” and added that he expected most of the withdrawn notes to return to the exchequer by the September 30 deadline. Will go ,
Speaking to the media, he said that the impact of withdrawing Rs 2,000 notes would be ‘very marginal’ on the economy as it constitutes only 10.8 per cent of the currency in circulation.
Shaktikanta Das said, ‘We have found that it is hardly being used for transactions. Therefore, economic activity will not be affected.
Read this also | Start exchanging Rs 2,000 notes from today: Check process, exchange limit
As part of the clean note policy, he said, the RBI has been carrying out such an exercise to recall currency notes from time to time, and such an exercise was carried out in 2013-14, whereby notes printed prior to 2005 , They were taken back. public circulation.
It is noteworthy that the Rs 2,000 denomination banknotes were introduced in November 2016, mainly to meet the economy’s need for currency after withdrawing the legal tender status of all Rs 500 and Rs 1,000 notes in circulation at that time. to complete.
