Akhilesh Yadav hits out at govt over withdrawal of Rs 2,000 notes

Samajwadi Party president Akhilesh Yadav targeted the BJP-led government at the Centre over the RBI's decision to withdraw Rs 2,000 currency notes, saying some people realise their mistakes too late

Samajwadi Party president Akhilesh Yadav targeted the BJP-led government at the Centre on Friday over the RBI's decision to withdraw Rs 2,000 currency notes from circulation, saying "some people realise their mistakes too late".

The Reserve Bank of India on Friday announced the withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks.

Reacting to the development, Yadav tweeted in Hindi, "Some people realise their mistake too late The same happened in the case of the Rs 2,000 note, but the people and the economy of this country will have to pay for it."

"Governance works not through arbitrariness but through wisdom and honesty," the former Uttar Pradesh chief minister added.

In a statement issued in the evening, the RBI said Rs 2,000 notes currently in circulation will continue to be legal tender. It said the notes can be exchanged in banks from May 23.

According to the RBI, around 89 per cent of the Rs 2,000 notes were issued before March 2017 and are nearing the end of their estimated life of four-five years.