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RBI Rs. Nripendra Mishra on withdrawing 2000: Taking an important decision on Friday, June 19, the Reserve Bank of India has announced the demonetisation of the 2000 rupee note. That means now two thousand notes will gradually go out of circulation. RBI has fixed its date as 30 September 2023. Till this date these notes can be exchanged from banks. Politicians, policy makers and experts are reacting differently to this decision of RBI. But the former secretary of Prime Minister Narendra Modi has given information about this.
‘There was hope to exchange two thousand notes’
In the meantime, Nripendra Mishra, who has been PM Modi’s principal secretary, has also reacted to the withdrawal of the 2000 rupee note. He said that when demonetisation was planned in 2016, PM Modi already had in mind that the Rs 2000 note was a temporary solution. That is, these notes were expected to be exchanged.
PM Modi did not like 2000 rupees note.
Talking to News18, Nripendra Mishra said, ‘This is not demonetisation, 2000 rupee notes will have to be withdrawn. At the time of demonetisation, it was suggested to introduce 2000 rupee notes, which the Prime Minister did not like. However, as captain, he approved these notes on the advice of his team. However he was very clear at the time and so were we that this would be a short term arrangement.
‘Demonetisation was an important decision’
Nripendra Mishra said that this was an important decision at the time of demonetisation, which was taken by the cabinet under the leadership of PM Modi. He said that PM Modi’s thinking was that Rs 2000 notes were being introduced. It was a temporary arrangement brought in under special circumstances. It was never going to be a lengthy process. Also, the PM at that time also believed that this large note (Rs. 2000 note) would not be practical for transactions mainly for the poor. So he decided to change it.
‘Decision made in stages’
Apart from this, at that time he also thought that if the 2000 note was kept unchanged for a long time, it would encourage black money and also facilitate other tax evasion. So he believed that the sooner it could be withdrawn the better. For this, phased decisions have been taken. First of all it was decided that Rs 2000 note will not be printed. After this, the process of gradually reducing and withdrawing their circulation was started in the next phase and now on Friday, the RBI has issued a circular clarifying that all these notes will be withdrawn by September 30.
