‘PM Modi Was Never Liked ₹2,000 Notes’

In a surprising revelation, Nripendra Mishra, the former principal secretary of Prime Minister Narendra Modi, has stated that PM Modi never favored the introduction of ₹2,000 notes during the demonetization drive in 2016. Mishra’s comments come in the wake of the Reserve Bank of India’s announcement to withdraw ₹2,000 notes from circulation, leading to a heated political debate.

According to Nripendra Mishra, the high denomination notes were deemed unsuitable for daily transactions by PM Modi. The decision to withdraw ₹2,000 notes has garnered support from Mishra, who believes it aligns with PM Modi’s preference. However, the Congress party has criticized Mishra’s statement, calling it “pathetic damage control.” Congress general secretary Jairam Ramesh sarcastically added that PM Modi might claim he was forced into demonetization by his advisors.

The opposition parties have seized upon the withdrawal of ₹2,000 notes, labeling it as a U-turn by the government. They point out that in 2016, the government banned ₹500 and ₹1,000 notes and introduced the ₹2,000 denomination. The RBI clarified that the printing of ₹2,000 banknotes had been discontinued in 2018-19.

While BJP leaders have defended the decision, stating that it is distinct from the demonetization exercise, critics argue that it contradicts the government’s earlier stance. BJP leaders emphasize that common people rarely possess ₹2,000 notes, and their recent discovery in raids exposes their use for hoarding money.

Individuals holding ₹2,000 banknotes will have the option to deposit them into their accounts or exchange them for other denominations at any bank branch until September 30, 2023. The State Bank of India has clarified that customers will not be required to provide any ID cards or requisition forms for exchanging the notes. They will be allowed to exchange a maximum of 10 currency notes of ₹2,000 at a time.

The withdrawal of ₹2,000 notes and the revelation of PM Modi’s alleged preference has sparked a contentious political discourse. As the debate continues, the focus remains on the impact of this decision on the economy and public sentiment towards high denomination currency.