Context:
The Reserve Bank of India’s recent announcement that ₹2,000 banknotes would be withdrawn from circulation has triggered a sense of déjà vu.
How is it different from 2016 Demonetisation?
Issue:
Conclusion:
The RBI retains the right to issue or withdraw currency bills as it deems fit for the conduct of its policy mandate, but the lack of transparency now, and the administrative flip flops, do little to enhance trust in its “promise to pay the bearer” the note’s face value.
Clean Note Policy:
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News Source: The Hindu
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May 23, 2023
