Scrapping the ₹2,000 note
It is not known why the ₹2,000 note is being withdrawn all of a sudden by the government, immediately after the BJP’s debacle in the Karnataka elections. The perception gaining ground is that the government could be wanting to wipe out funds lying with the Opposition parties ahead of the 2024 election. Cannot the government win elections based on its performance instead of resorting to gimmicks such as controlling the currency in the guise of a ‘clean note policy’ and curbing black money?
Kshirasagara Balaji Rao,
Hyderabad
The common man is unable to make sense of banking decisions such as the the exchange/deposit of ₹2,000 notes or banking jargon such as “deposit base”, “liquidity” or even “fiscal buffer”. He is very baffled by the government’s latest decision. Even after citizens surrender their ‘Rooh Afza’-looking notes, can we rest assured that the Indian economy will be in the pink of health, and that notes of other denominations will not be pink-slipped similarly?
Avinash Godboley,
Dewas, Madhya Pradesh
The RBI’s move is bewildering and appears to be a knee-jerk reaction. If the objective is to nab those hoarding black money in the form of ₹2,000 notes, there are other means of cracking down on tax evaders rather than shaking up the economy now and then curbing the supposed prevalence of black money. Also, not all cash is black and neither is holding cash in ₹2,000 notes illegal. The government has once again set the cat among the pigeons. People will again be traumatised, the economy would suffer, and it could even shake people’s faith in the rupee. But the government refuses to learn its lessons.
N. Sadhasiva Reddy,
Everett, Washington, U.S.
Why is there a constant meddling with the Indian currency and notes? The government of the day appears to have some sort of a note fixation. Are elections going to be held soon?
Srikanth Venkatachari,
Mumbai
