Not a convincing reason

Govt may withdraw Rs 2,000 notes, not willing to continue with circulation alongside Rs 1,000 notes

With reference to the report, “Rs 1,000 notes may make a comeback in new avatar with better security” (August 28), the government seems to be in a Catch-22 situation over what would the most appropriate denomination of currency notes to put into circulation.

If the report of the likely reissuing of Rs 1,000 denomination notes turns out to be true, some interesting developments could take shape. But I wonder whether security features in the pre-demonetisation Rs 1,000 notes were plausible reasons for their sudden withdrawal from circulation on November 8, 2016? The latest plea for their reintroduction is not convincing.

The government may withdraw Rs 2,000 notes, not willing to continue with their circulation alongside Rs 1,000 notes, as that could facilitate creation of black money.

Moreover, several reports of the printing of fake Rs 2,000 notes, the suspected stashing of a large number of such notes by vested interests and their easy availability among terror outfits in Jammu and Kashmir could prompt the government to do away with the notes. Maybe, then it would be able to kill two birds with one stone. 

Kumar Gupt, Panchkula

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