CPI MP hits out at govt over withdrawal of Rs 2,000 notes from circulation

CPI MP Binoy Viswam on Friday hit out at the government over the RBI's announcement to withdraw Rs 2,000 currency notes from circulation, saying a white paper on the country's economy should be brought out to show the effects of demonetisation.

The Rs 2,000 denomination bank note was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all Rs 500 and Rs 1,000 bank notes in circulation at that time.

"Tuglakhs control the financial sector of the country. They have withdrawn the Rs 2,000 notes. They may argue that this shows the strength of the economy under Modi. Are they dare enough to bring out a white paper on Indian economy after the demonetisation?" Viswam said in a tweet.

The Reserve Bank of India (RBI) on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30.