2000-rupee note also to be banned, new 250 rupees note
In an effort to dent the black money holders, prime minister Modi came up with big note ban and introduced 2000 rupee note. But, with growing outcry that 2000 note will further increase black money, reports are that this 2000 note will not stand long. This is disclosed by none other than close associate of Modi and well known auditor Gurumurty. He said that the government will withdraw 2000 note and introduce new 250 rupee notes.
A key member in RSS, Gurumurty is presently a key adviser to PM. He said that 2000 note was printed just to face the cash crunch for the time being and said that the union government is taking measures to bring more 100, 250, and 500 denomination notes into the market.
Meanwhile, RBI suggested people not to stack the money but to bring it into the market. It said that this will put more money into the market and make things easier a little. It stated that since the big note ban, about 12.44 lakh crores of old notes were deposited and that the banks have taken action against the staff for alleged irregularities during this time.