Jharkhand Chief Minister Hemant Soren expressed his dissatisfaction with the recent decision by the central government to withdraw Rs 2,000 notes from circulation. He argued that there is no correlation between corruption and this move, comparing it to the demonetization announcement in 2016. Soren stated that over two lakh small-scale and medium-scale industrialists left the country after demonetization.
He believes that the government’s decision is politically motivated to safeguard their interests, but people are now becoming more aware of the situation. Bahujan Samaj Party Chief Mayawati also voiced her concerns about the withdrawal of currency notes, emphasizing that decisions affecting public interest should be thoroughly studied before implementation.
She highlighted the connection between currency, its value in the global market, and the prestige of a country. Mayawati called for a careful evaluation of the effects and consequences before making any decisions. The Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 notes from circulation, stating that existing notes can be deposited or exchanged by September 30.
However, the Rs 2,000 notes will continue to be legal tender. To minimize disruption, the RBI allowed the exchange of Rs 2,000 notes for other denominations up to Rs 20,000 at a time, starting from May 23, 2023. The RBI also instructed banks to stop issuing Rs 2,000 denomination banknotes immediately.