Printing of the new rupees 200 notes has fuelled rumors that the government may be gearing up for another round of demonetisation and may do away with the rupees 2000 notes
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Printing of the new rupees 200 notes has fuelled rumors that the government may be gearing up for another round of demonetisation and may do away with the rupees 2000 notes.
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According to reports by the Economic Times, a large number of people believe that the 2000 rupee note is likely to be scrapped. In a session at the parliament, the Rajya Sabha asked the Finance Minister Arun Jaitley if there was any truth to the matter, but he chose not to reply even as many opposition members demanded a clarification.
Also read: Indian Government begins printing 200 rupee notes
The rumors of this ‘impending’ second spell of demonetisation were fuelled when the supply of rupees 2000 notes fell. While it might be considered as a method to curb the supply of these notes that the RBI rushed to print immediately after the demonetization in November last year, it couls also be a conscious strategy to slow down the flow of high-value notes and introduce new, low value notes in the market.
What further fuelled the rumors of demonetisation was the announcement that the government was going to launch rupees 200 notes – making it easier to use and prevents hoarding. It is also being looked at as a way to reduce the burden on the common man, who will not be too severely impacted if the rupees 2000 note is demonetised.
The rupees 2000 notes were printed and circulated immediately after demonetisation in order to plug the gap that had been created after demonetization, but it soon led to a number of issues for the common man. One of the most common one being that it was too large to use for daily transactions.
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