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Rs. 2000 Notes Will Phase Out In The Next 4-5 Years, Says RSS Ideologue S Gurumurthy

Published on 12 December, 2016 at 11:43 pm By

RSS ideologue and chartered accountant S Gurumurthy recently revealed that the new Rs. 2000 currency notes will be phased out in the next four-five years.

He told India Today news channel that Rs. 2000 is only a bridge which the government had to bring it in place of the old Rs 1000 notes for the time being.

His remarks holds a significant value as the government consults him on several issues. He says will be phased out gradually to shift to small denomination currency notes.


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Elaborating on the same, Gurmurthy said, “The notes would be gradually replaced by the currency notes of lower denomination and not declared illegal as it has been done in the case of old Rs 500 and Rs 1000 notes.



 

Reuters


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Gurumurthy also suggested that Rs 500 may be the highest valued note followed by Rs 250, Rs 200 and Rs 100. However, contrary to government claims, several opposition leaders have slammed the demonetization move. Former prime minister and economists Manmohan Singh claimed that demonetisation has shaken people’s confidence in the Indian currency.

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