Rs 2,000 note has become synonymous with black money, should be phased out: BJP MP demands in Rajya Sabha
Rs 2,000 notes are being used in money laundering, terror funding, drug trafficking, alleges Sushil Modi about the highest currency denomination brought into effect after note ban in Nov 2015
- Dec 12, 2022,
- Updated Dec 12, 2022 2:32 PM IST
A demand to gradually phase out Rs 2,000 currency notes was made in the Rajya Sabha on Monday by BJP MP Sushil Kumar Modi saying citizens holding such banknotes should be given two years to exchange their holdings of the highest denomination notes.
"Rs 2,000 notes have vanished from most ATMs in the country and there are rumours that they may not be legal tender soon. The government has to clarify on this. RBI stopped printing the Rs 2,000 currency notes 3 years back," said Modi.
The Rs 2,000 note was introduced after PM Narendra Modi announced demonetisation in November 2016 to make the then existing Rs 500 and Rs 1,000 notes invalid with immediate effect.
In his speech in the Upper House, Sushil Modi alleged that Rs 2,000 notes are being sold on premium and that they are being hoarded.
"Rs 2,000 notes are being used in money laundering, terror funding, drug trafficking. The highest currency denomination in the country has become synonymous with black money. I request the government to gradually phase out the Rs 2,000 note. Citizens should be given two years to exchange their holdings of the Rs 2,000 notes," added Sushil Modi.
A demand to gradually phase out Rs 2,000 currency notes was made in the Rajya Sabha on Monday by BJP MP Sushil Kumar Modi saying citizens holding such banknotes should be given two years to exchange their holdings of the highest denomination notes.
"Rs 2,000 notes have vanished from most ATMs in the country and there are rumours that they may not be legal tender soon. The government has to clarify on this. RBI stopped printing the Rs 2,000 currency notes 3 years back," said Modi.
The Rs 2,000 note was introduced after PM Narendra Modi announced demonetisation in November 2016 to make the then existing Rs 500 and Rs 1,000 notes invalid with immediate effect.
In his speech in the Upper House, Sushil Modi alleged that Rs 2,000 notes are being sold on premium and that they are being hoarded.
"Rs 2,000 notes are being used in money laundering, terror funding, drug trafficking. The highest currency denomination in the country has become synonymous with black money. I request the government to gradually phase out the Rs 2,000 note. Citizens should be given two years to exchange their holdings of the Rs 2,000 notes," added Sushil Modi.