'Those who gathered Rs 2,000 notes illegally are crying over withdrawal'

Haryana's Home Minister Anil Vij has said that those who accumulated Rs 2,000 currency notes illegally are the ones crying over the Reserve Bank of India's decision to withdraw them from circulation

Haryana's Home Minister Anil Vij has said that those who accumulated Rs 2,000 currency notes illegally are the ones crying over the Reserve Bank of India's (RBI) decision to withdraw them from circulation.

In a surprise move, the RBI on Friday announced the withdrawal of Rs 2,000 currency notes from circulation but gave the public time till September 30 to either deposit such notes in accounts or exchange them at banks.

It said it had asked banks to stop issuing Rs 2,000 notes with immediate effect.

"Those who are crying have filled sacks and accumulated (Rs 2,000 currency) notes in an illegal manner," Vij said in a statement on Saturday.

Rs 2,000 notes will continue to be legal tender and can be exchanged or deposited in banks. Those who have them can go to a bank and deposit them or get them exchanged, he said.

Rs 2,000 denomination banknotes were 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 banknotes in circulation at that time.

The RBI said it has also been observed that Rs 2,000 denomination banknotes are not commonly used for transactions. Further, the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public.