Withdrawal of Rs 2000 currency notes: Mayawati says study should be conducted before taking such decision

Bahujan Samaj Party chief Mayawati on Sunday said changes made in relation to currency notes have a direct bearing on public interest and any decision to withdraw them should be taken only after carrying out a study.The former Uttar Pradesh chief minister was commenting on the Reserve Bank of India announcing withdrawal of Rs 2,000 currency notes from circulation.

Bahujan Samaj Party chief Mayawati on Sunday said changes made in relation to currency notes have a direct bearing on public interest and any decision to withdraw them should be taken only after carrying out a study.

The former Uttar Pradesh chief minister was commenting on the Reserve Bank of India announcing withdrawal of Rs 2,000 currency notes from circulation. The bank said existing notes in circulation can either be deposited in bank accounts or exchanged by September 30.

''Since currency and its price in the world market are related to interest and prestige of the country, frequent changes in it directly affect public interest. That's why proper study on its effects and consequences is necessary before doing so. The government must pay attention to this,'' she said in a tweet in Hindi.

The bank notes in Rs 2,000 denomination will continue to be a legal tender, the RBI had said in a statement.

In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, the RBI said exchange of Rs 2,000 bank notes into bank notes of other denominations can be made up to a limit of Rs 20,000 at a time at any bank starting from May 23, 2023.

The RBI has advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect.

Besides, the facility for exchange of Rs 2,000 bank notes up to the limit of Rs 20,000 at a time will be provided at the 19 Regional Offices (ROs) of the RBI having issue departments from May 23.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)