The industry is likely to take the decision by the RBI, to withdraw ₹2,000 notes from circulation, in its stride and its impact on the micro and small scale industries will be negligible, said K.N. Narasimha Murthy, president, KASSIA.
Explaining the reason why it will barely impact MSMEs, he said the apex bank has given a wide window for depositing the notes, till September 30, for getting it exchanged. There will be a few practical problems in case of large volume transactions with respect to employee salaries and payments to suppliers as these are substantially done in ₹2,000 notes, but there is no scope for complaint as they continue to be valid as legal tender.
