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HomeCURRENT AFFAIRSBUSINESSNripendra Misra Opens Up About PM Modi's View on Rs 2000 Notes,...

Nripendra Misra Opens Up About PM Modi’s View on Rs 2000 Notes, says ‘he was not in favour of Rs 2000 notes’

2000 Note Update News: Nripendra Misra, who served as PM Narendra Modi’s senior secretary during demonetisation in 2016, claimed the leader was adamantly opposed to the Rs 2,000 notes but reluctantly approved of them.

Reserve Bank of India Urges Exchange of Rs 2000 Notes

The announcement follows the Reserve Bank of India’s request for citizens to swap their Rs 2,000 notes before September 30. The central bank said in a new statement on Monday that a decision regarding the legal standing of these notes will only be made after the deadline. Following the demonetisation of the Rs 1,000 and Rs 500 notes in 2016, the RBI began producing Rs 2,000 notes. Once sufficient amounts of banknotes in different denominations were made accessible, the goal was achieved.

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Nripendra Misra Reveals PM Modi’s Reluctance and Long-Term Plan for Rs 2000 Notes

Nripendra Misra claimed in an interview with the news agency ANI that while PM Modi was not at all in favour of the Rs 2,000 notes, he reluctantly agreed to demonetization because it needed to be done quickly. “PM Modi never considered Rs 2,000 notes as notes of the poor, he knew Rs 2,000 has hoarding value instead of transactional value,” Misra claimed. Nripendra Misra previously said that the introduction of Rs 2,000 notes was only a temporary fix and that the prime minister has a plan to gradually phase them out of circulation in an exclusive interview with India Today. The RBI anticipates that majority of the Rs 2,000 notes would be recovered by the deadline of September 30 despite its decision to remove them from circulation. After a review following the deadline, a decision about the notes’ legal tender status will be made.

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