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New Delhi: Congress MP and former finance minister P Chidambaram on Monday said the Centre’s decision to introduce Rs 2,000 note in 2016 was a “foolish move” and said he was “happy” that it was being withdrawn. On his official Twitter account, he said that the Bharatiya Janata Party’s spin that Rs 2,000 notes are being withdrawn to ‘unearth black money’ is ‘debunked’. The Reserve Bank of India (RBI) on Friday said it will withdraw Rs 2,000 notes from circulation and people can exchange or deposit them in their bank accounts till September 30.
P Chidambaram tweeted, “Banks have clarified that no identification, no form and no proof will be required to exchange Rs 2000 notes. BJP’s argument that Rs 2000 notes will be used to unearth black money. Being withdrawn for, collapses.”
The Rajya Sabha MP also said that common people do not have Rs 2,000 notes.
“They discontinued it soon after it was introduced in 2016. They were useless for daily retail exchange, so, who kept and used Rs 2000 notes? You know the answer. Rs 2000 note only Helped black money holders to deposit their money easily,” he alleged.
Chidambaram said that those holding Rs 2,000 notes are being welcomed on the red carpet to exchange their notes.
He wrote, “So much for the government’s stated objective of eliminating black money. Rs 2000 note was a foolish move in 2016. I am glad that the foolish move is being withdrawn after at least 7 years.”
Banks have clarified that no identity card, form and any proof will be required to exchange Rs 2000 note.
BJP’s gimmick of withdrawing Rs 2000 notes to unearth black money has collapsed
Common people do not have 2000 rupee notes. He soon abandoned it… – P Chidambaram (@PChidambaram_IN) May 22, 2023
The Rs 2,000 denomination banknotes were introduced in November 2016, primarily to rapidly meet the economy’s need for currency after the withdrawal of legal tender status of all Rs 500 and Rs 1,000 notes in circulation at that time. .
According to the RBI, the purpose of introducing Rs 2,000 banknotes was served when notes of other denominations became available in sufficient quantity.
The RBI said it has also been observed that Rs 2,000 denomination notes are not commonly used for transactions. In addition, the stock of bank notes of other denominations continues to be sufficient to meet the currency requirement of the public.
“In view of the above, and in pursuance of the ‘Clean Note Policy’ of the Reserve Bank of India, it has been decided to withdraw Rs 2,000 denomination banknotes from circulation,” it said.
