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Andhra CM Naidu asked for demonetisation of Rs 500, Rs 1,000 notes in October

He hailed the Centre's steps over curbing black money, including the recent Income Declaration Scheme

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Currency Notes

BS Reporter  |  Hyderabad 

It may or many not be a coincidence but Andhra Pradesh chief minister N Chandrababu Naidu's wish about demonetising Rs 500 and Rs 1,000 currency notes got fulfilled within a month after he wrote a letter to Prime Minister Narendra Modi seeking the same.

In a letter addressed to the Prime Minister on October 12, 2016, Naidu asked for the scrapping of the higher denomination notes to check the use of black money. "Since most parallel economy transactions are done by using Rs 500 and Rs 100 notes, demonetising them will make it difficult for hoarders to do large cash ...

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First Published: Wed, November 09 2016. 15:04 IST
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