Friday , September 20 2024

Withdrawal of 2000 notes will have a negative impact on the economy: Congress

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New Delhi: The Congress has alleged that the sudden withdrawal of the Rs 2000 note will have a negative impact on the country’s economy. This will also put additional pressure on the bank.

Congress spokesperson Gaurav Vallabh said during a press conference held at the party headquarters on Tuesday that there are 181 crore notes of Rs 2000 in the market. In such a situation, if a person changes five notes at once, the bank will have to do 36 crore transactions to change these notes. If a transaction takes four minutes, banks will use 144 crore minutes for this work in four months.

The Congress spokesperson said that due to this decision of the government, the banks will have to allocate around 2.5 crore hours of time. Due to which bank operations will be affected, farmers, small traders etc. will have difficulty in getting loans. It will affect their business badly. Due to which our economy can also have a bad effect.

Gaurav said that Congress is against demonetisation and Rs. 2,000 note is also against withdrawal. Withdrawal of frequent currency exchange is tantamount to reducing the credibility of the rupee. The central government should take deliberate steps.

It may be noted that the Reserve Bank of India (RBI) has decided to demonetize the 2000 rupee notes. The bank has given four months time to return these notes. During this period, people will be able to exchange the 2000 rupee notes they are holding.