The people of India always have the fear that the Center will scrap the Rs 2,000 currency notes at some point in the future. Will there be another demonetization round?
In Rajya Sabha, MP SP Naresh Agarwal asked the Government to give a clarification of the possible ban of Rs 2000 note and introduction of Rs 1,000 coins. Even Congressman MP Ghulam Nabi Azad sought clarity on the ban on Rs 2000 notes and reports on the introduction of Rs 100, Rs 200 and Rs 1000 coins.
When opposition MPs asked the Center to clarify whether they have plans to discard Rs 2000 denomination bills, Finance Minister Arun Jaitley declined to respond on the issue. This reluctance gave the impression that the Rs 2000 notes will not be in circulation for much longer.
RBI stopped the printing of Rs 2,000 notes five months ago. Even the offer of these higher denomination notes has decreased drastically in recent months.
Center is of the opinion that it is easy to store black money in the form of Rs 2,000 notes. He also believed that introducing more Rs 500 and Rs 200 notes would minimize the side effects of the Rs 2000 ban.
